EARN Overview presentation to SVMN 2.24.09

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Camille Busette presented this material at the Silicon Valley Microfinance Network (SVMN) event February 24, 2009.

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EARN Overview presentation to SVMN 2.24.09

  1. 1. EARN Overview Presented to Silicon Valley Microfinance Network February 24, 2009 Camille Busette Vice President
  2. 2. EARN Introduction <ul><li>Helping low-wage families save to invest in homes, education, small business </li></ul><ul><li>Providing money management training to help families achieve their dreams </li></ul><ul><li>Working to effect policies that increase asset-building opportunities for workers </li></ul>EARN breaks the cycle of poverty and creates new cycles of prosperity by helping low-wage families build assets
  3. 3. EARN’s Arena of Influence Asset Protection Asset Leveraging Asset Creation Asset Accumulation
  4. 4. How EARN Breaks the Cycle of Poverty EARN’s asset-building strategy gives families the knowledge and tools to accumulate, leverage, and preserve assets across generations <ul><li>Individual Development Accounts </li></ul><ul><li>Financial Coaching </li></ul><ul><li>Micro lending for Credit Card or Medical Debt </li></ul><ul><li>SAFE Accounts </li></ul><ul><li>Alumni Support and Training </li></ul><ul><li>Financial Education </li></ul><ul><li>Bank on San Francisco </li></ul><ul><li>Public Policy </li></ul><ul><li>Research </li></ul>
  5. 5. EARN’s Clients <ul><li>Over 2300 IDA savers </li></ul><ul><ul><li>Average household income < $20K annually </li></ul></ul><ul><ul><li>83% people of color; 65% women </li></ul></ul><ul><ul><li>64% are from households with children </li></ul></ul><ul><li>Over 300 Alumni have access to financial coaching and planning </li></ul><ul><li>Over 17,000 newly banked San Francisco through the Bank on San Francisco </li></ul><ul><li>EARN savers put aside 5% of their gross income </li></ul><ul><li>To date, have put aside a cumulative $3 million </li></ul><ul><li>90 homes bought with savings </li></ul><ul><ul><li>Nearly all EARN homeowners have 30-year fixed rate mortgages </li></ul></ul><ul><ul><li>EARN disallows predatory mortgage products </li></ul></ul><ul><li>383 investments in post-secondary education </li></ul><ul><li>241 businesses have been started </li></ul>
  6. 6. EARN –Total IDA Accounts
  7. 7. <ul><li>Thank You! </li></ul>

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