EARN Overview Presented to Silicon Valley Microfinance Network February 24, 2009 Camille Busette Vice President

EARN Introduction Helping low-wage families save to invest in homes, education, small business Providing money management training to help families achieve their dreams Working to effect policies that increase asset-building opportunities for workers EARN breaks the cycle of poverty and creates new cycles of prosperity by helping low-wage families build assets

Helping low-wage families save to invest in homes, education, small business

Providing money management training to help families achieve their dreams

Working to effect policies that increase asset-building opportunities for workers

EARN’s Arena of Influence Asset Protection Asset Leveraging Asset Creation Asset Accumulation

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 Individual Development Accounts Financial Coaching Micro lending for Credit Card or Medical Debt SAFE Accounts Alumni Support and Training Financial Education Bank on San Francisco Public Policy Research

Individual Development Accounts

Financial Coaching

Micro lending for Credit Card or Medical Debt

SAFE Accounts

Alumni Support and Training

Financial Education

Bank on San Francisco

Public Policy

Research

EARN’s Clients Over 2300 IDA savers Average household income < $20K annually 83% people of color; 65% women 64% are from households with children Over 300 Alumni have access to financial coaching and planning Over 17,000 newly banked San Francisco through the Bank on San Francisco EARN savers put aside 5% of their gross income To date, have put aside a cumulative $3 million 90 homes bought with savings Nearly all EARN homeowners have 30-year fixed rate mortgages EARN disallows predatory mortgage products 383 investments in post-secondary education 241 businesses have been started

Over 2300 IDA savers

Average household income < $20K annually

83% people of color; 65% women

64% are from households with children

Over 300 Alumni have access to financial coaching and planning

Over 17,000 newly banked San Francisco through the Bank on San Francisco

EARN savers put aside 5% of their gross income

To date, have put aside a cumulative $3 million

90 homes bought with savings

Nearly all EARN homeowners have 30-year fixed rate mortgages

EARN disallows predatory mortgage products

383 investments in post-secondary education

241 businesses have been started

EARN –Total IDA Accounts

Thank You!

Thank You!