Community Investment Unit
Two Cents Plus Interest
The CIU joined Illinois Lieutenant Governor Pat Quinn and members of the Monsignor Egan Campaign for Payday Loan Reform in a December press conference to warn consumers against payday lending during the holiday season. Together, they are advocating to close the 120-day loophole of the Payday Loan Reform Act of 2005 by passing Illinois Senate Bill 1993.
About Us
What is Asset Poverty?
While income poverty is a term many people are aware of, asset poverty includes those households that do not have enough in assets to meet their expenses for three months if all outside sources of income were to disappear. Assets, both personal and financial, are the foundation for long-term stability and success. To learn more, visit www.illinoisassetbuilding.org.
The Shriver Center's Community Investment Unit takes action against poverty on three fronts: building assets, expanding ownership, and protecting consumers. Through progressive policy and effective advocacy, the CIU helps communities avoid a cycle of debt, making asset ownership available and sustainable for everyone.
From the Headlines
Given a Shovel, Americans Dig Deeper Into Debt; New York Times, July 20, 2008Some lenders will have cap on interest rates; Nashua Telegraph, July 5, 2008
Single Moms' Poverty Spikes After Welfare Overhaul; Women's E-News, July 3, 2008
Hello Muddah, Hello Fadduh, My Portfolio is in the Gutter; July 2, 2008 Wall Street Journal
Interest still high in payday battle; June 29, 2008, Chicago Tribune
Auto-IRAs could head off fiscal ruin; June 26, 2008, Politico
More headlines...
Building Assets
- Illinois Asset Building Group (IABG)
- Asset Policy Learning Circle
- State Asset-Building Coalition Directory
- CSD Asset Coalition Policy Report
- Building Community Assets: Growing Lower Income Credit Union Membership
Combining asset building & work supports programs:
- Eliminating the Asset limit
- State Asset Limit Toolkit (S.A.L.T.)
- Financial Education as a TANF activity
Offering Financial Education through:
- Financial Links
- Savings for Education, Entrepreneurship, and Downpayment (SEED)
- Campaigns to Bank the Unbanked
Providing Access to Mainstream Financial Institutions through:
- Learn About Student-Run Banks in the June 2008 Clearinghouse Review
- Opening a High School Bank Branch
- Teen bank model generates interest in Philadelphia
- Check out our video - "Branching Out," the story
of student-run banks
- Community Reinvestment Act (CRA)
Calendar of Events
Protecting Consumers
- Payday Loan Reform Act
- Rate Caps: The Proven Cure To Payday Loan Debt
- Combating Predatory Lending with Monsignor Egan Campaign
- IRS Response to Refund Anticipation Loans
Expanding Ownership
- Universal Children's Savings Accounts (CSAs)
- Child Development Accounts (CDAs)
- Children's Savings Accounts State and National
Policy
- Saving for Education, Entrepreneurship, and Downpayment (SEED)
- 2008 Economic Stimulus Package for Savings
- Individual Development Accounts (IDAs)
- Auto-Enrollment 401(k) Retirement Plans
- Portable Retirement Accounts
2008 Legislation Watch
CIU Publications
Get acquainted with asset building and asset protection
- Find IDA programs in your area at www.idanetwork.org
- Profitwise from the Federal Reserve Bank of Chicago
- "Building Assets While Building Communities," H.
McCullough, February 2006
Partners
Community Investment Unit News
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© Copyright 1996-2008 Sargent Shriver National Center on Poverty Law
50 East Washington Street, Suite 500, Chicago, Illinois, 60602;
(312) 263-3830 (voice); (312) 263-3846 (fax).