Children’ Savings Initiative
Financial Education Workshops .
Prosper surrounding the issue has ebbed and the volume lowered, payday lending is still on the radar for The special exemption allowing the Coalition for a Prosperous lender’s usurious interest rates on Mississippi. small loans that trap Mississippians in a cycle of debt Partnering with the Mississippi did not sunset in July 2012, Center for Justice, CPM has therefore, the cycle of financial assembled a core group of area entrapment continues for many clergy to address the negative of our friends, neighbors, and effects of payday lending from a relatives. faith-based perspective. Although the conversation
The group is currently laying formal strategies to serve as a platform from which to launch fresh approaches to predatory lending in Mississippi. We believe that education and practical alternatives are keys to minimizing the deceptive and financially crippling policies practiced by this industry. CPM and Mississippi Center for Justice are proud to participate in the solution – join us.
Mississippi Roadmap to Health Equity, Inc., a CPM partner, conducted an eight week summer youth program for approximately 75-100 students in grades K-1st grade During this children’s savings initiative, teachers will emphasize the importance of saving, the benefits, and learn to plan to save for a specific items. The goal was to foster a desire to save money and appreciate the rewards of saving. Other activities included field trips to three local banks and practical application of lessons by purchasing lunch with a budgeted amount of money. This pilot program is seen as the first step to introducing financial education to parents as well. Parents were encouraged to support the initial saving of their children by adding a small amount toward their children’s savings goals. And, parents can participate in financial literacy workshops that will be offered after the summer program. At the conclusion of the summer program parents will be able to participate in financial literacy workshops covering topics that include credit repair, budgeting, strategies for getting out of debt, savings, and learn how to use other helpful asset building tools.
Program Director, Evelyn Njoroge, of the Coalition for a Prosperous Mississippi facilitated a training session designed to equip non-custodial fathers as in-take clerks. During the training participants were taken through the steps of performing the in-take process and given the opportunity to role play as a means of insuring understanding of the material and building confidence in their presentations. The information gathered by these in-take clerks will give the Coalition a platform from which to develop strategies that are responsive to the “real” needs rather than “assumed” needs of non-custodial parents. This, in essence, is young men reaching out to other men in similar situations. They are the nucleus of a grassroots coalition for change in policy and laws that affect their ability to function responsibly as noncustodial fathers. We applaud their courage in taking these first steps. A second aspect of the non-custodial father initiative is the development of a training program for low-wealth non-custodial fathers facing legal challenges. CPM is discussing the design and implementation of this initiative with prospective grassroots organizational partners. The overall goal is to provide a second chance for non-custodial fathers to fulfill their role as responsible fathers. Specific objectives of the program are: • • • •
To equip non-custodial fathers with basic information and skills required for the job interview; To facilitate non-custodial fathers in the job search; To equip non-custodial fathers with basic communication skills; To equip non-custodial fathers with skills to build meaningful/workable relationships with their children and their children’s custodial parents.
-Evelyn Njoroge, Coalition for a Prosperous Mississippi
Learn – Donate - Join Us
CPM Offers Financial Ed
Ford Site Visit
Financial education is increasingly important for families trying to decide how to balance budgets, buy homes, fund children’s education, and ensure retirement income. Basic financial management skills can help ensure better to money management, effective credit use, increase wealth building ability, and provide information that supports more sound financial decisions.
In June the Executive Leadership Team of the Coalition for a Prosperous Mississippi (CPM) hosted Toni Cooke, Senior Consultant with Realize Consulting and Gena Gunn McClendon of the Center for Social Change at Washington University in St. Louis Missouri. Realize Consulting is the coordinating agent for the Southern Regional Asset Building Coalition (SRABC) project, a multi-year venture for the Ford Foundation’s Building Economic Security over a Lifetime Initiative. This year’s visit was co-hosted by the Mississippi Roadmap to Health Equity and included a meeting with the CPM Executive Leadership Team. The visit ended with a visit with several young men who are participants in the coalition’s Non-Custodial Father Initiative.
EDUCATE AND ENGAGE At CPM we are preparing new strategies and materials geared toward breathing new life into our battle for the passage of the Family Empowerment Act and the Expanded Cooperative Statute. We are calling this fresh approach to our legislative initiative – “Engage and Educate.” This campaign will focus on legislators and constituents. We are determined to make it happen in the upcoming legislative session. We will need coordinators statewide – join u s or encourage some you know to help.
We know that financial literacy results in more stable communities and higher standards of living over the long term. This is the primary reason why the Coalition for a Prosperous Mississippi’s Financial Education workgroup is hosting a series of Financial Education workshops across the state this year. Providing financial education, free tax preparation, and sharing opportunities to save and invest through the VITA program are part of the CPM financial education overarching goals.
64.3 million Americans volunteered in some area of Civic Engagement last year From the V olunteering in America Report 2012
The workshops began in July offering budgeting, savings, investing, payday lending alternatives, and debt reduction. For additional information, contact Evelyn Njoroge at 601-932-4778 to find a workshop in your area or to host one. –Teresa Cheeks-Wilson Federal Reserve Bank of St Louis/Memphis BranchA
Achieving Asset-Building Goals: Estate Planning: Now Is The Time
Many people erroneously think estate planning isn’t necessarily for them because they have no “estate.” This is a common mistake people make. The truth is nearly everyone has an estate for purposes of estate planning (i.e. personal residences, insurance, retirement accounts, personal possessions, and household goods.) Estate planning also entails child care, and things like who handles the affairs of an individual who is incapacitated. Again, almost everyone needs to consider estate planning.
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JOIN US There are several ways you can work with the Coalition for a Prosperous Mississippi. There are opportunities to VOLUNTEER or PARTNER with us. Decide how you want to participate.
Corporate Partnerships Corporate partnerships with CPM offer unique opportunities for businesses and organizations to help change lives statewide.
Individual Partnerships Individual support of CPM offer special opportunities for you as a private citizen to help change lives statewide
Volunteer Volunteer your time and talent with one of our teams or assist with a special event or activity
Donate As a donor, you may decide to give a one-time gift, or make us part of your monthly or annual planned giving, or sponsor an event. We are glad to receive your financial donations: