United Ways of the Pacific Northwest
Community Reinvestment Plan Asset-Building Project
Healing and action for Black, Latine, and tribal communities across our state to build a better Washington for everyone.
UNITED WAYS OF THE PACIFIC NORTHWEST: COMMUNITY REINVESTMENT PLAN ASSET-BUILDING PROJECT
In June 2024, United Ways of the Pacific Northwest (UWPNW) received a $2.5 million grant from the Washington State Department of Commerce to lead the Community Reinvestment Plan Asset-Building Project. This project, which runs through June 30, 2025, aims to support Black, Latine, and Tribal communities across Washington State, with a focus on Clark, King, Pierce, Snohomish, Spokane, and Yakima counties.
The Washington State Department of Commerce’s Community Reinvestment Project (CRP) was developed to tackle long-standing racial, economic, and social inequities, particularly in communities that have been disproportionately affected by the war on drugs and other harmful policies. The primary goal of CRP is to generate sustainable economic benefits, foster wealth-building opportunities, and create a level playing field for everyone. Key initiatives include job creation in partnership with diverse small businesses, workforce training programs, helping individuals achieve self-sufficient incomes, home and business ownership opportunities, and enhancing neighborhood safety through community-led initiatives.
KEY FOCUS AREAS OF THE UWPNW COMMUNITY REINVESTMENT PLAN
Through a collaboration between UWPNW and local United Way organizations, the project will focus on three main components to build financial stability in underserved communities:
- Outreach and Technical Assistance: We will provide technical assistance grants, community engagement, and resource distribution, targeting local advisory teams and by-and-for organizations
- Asset-Building Initiatives: These initiatives will promote policies and programs that help individuals build, maintain, and preserve financial assets. This includes expanding free tax services, extending support to underserved regions, and developing localized programs that help individuals and families secure essential financial resources.
- Individual Development Accounts (IDAs): Participants in the project will have access to matched savings accounts of up to $10,000, alongside financial education and personalized coaching to help them achieve their savings goals and build assets for the future.
ADDRESS THE NEEDS OF ALICE HOUSEHOLDS IN WASHINGTON
According to the latest ALICE (Asset Limited Income Constrained Employed) report from July 2024, 35% of households in Washington earn more than the federal poverty level but still cannot meet basic needs like housing, food, healthcare, and childcare. This financial hardship is more acute among Black, Latine, and Tribal communities due to historical systemic racism, geographic barriers, and limited access to opportunities for economic stability.
In 2022, 49% of Black households, 49% of American Indian/Alaska Native households, and 46% of Hispanic households in Washington fell below the ALICE threshold, compared to 33% of white households. Using ALICE data, both the Department of Commerce and United Way are conducting targeted outreach to identify and assist potential participants for asset-building initiatives, ensuring that the program serves those who need it most.
SUPPORT FOR INDIVIDUALS AND SMALL BUSINESSES
- Coaching and mentoring with finances: community-based financial coaching programs funded by the Department of Commerce and the Community Reinvestment Project (CRP)
- Underemployment and need help earning a living wage: The Economic Security for All (EcSA) Career Accelerator program provides opportunities for under/unemployed folks in Black, Latine and Tribal communities to pursue their dreams and build collective power. If you or your family has been impacted by the war on drugs, you may have access to career training, financial coaching, support payments, and financial incentives of up to $1000. The goal of this program is to help give our communities a fighting chance to make a living wage and achieve their goals. CLICK HERE to connect with the EcSA program through your local workforce development board.
Additional Community Reinvestment Project info from the Washington State Department of Commerce:
- To view the full Community Reinvestment Plan, click HERE.
- Learn more about the ongoing work of the Community Reinvestment Project by visiting the Department of Commerce Collaboration Dashboard.
To learn more about the UWPNW Community Reinvestment Plan Asset-Building Project, contact Project Director, Jenefeness Franke HERE.