NCG members spend considerable effort to ease the hardship of people with the least resources in the Bay Area. New data shows that our 10 percent poverty rate reveals only part of the picture. More than triple that number have so little banked that any unexpected hardship—health, job or emergency—that takes more than three months of their income will plunge them into poverty, according to CFED, who’s releasing this data in partnership with Citi Community Development.
They’re hosting an event to share what they’ve learned and the progress they’ve made on how to set things right. Their strategy for developing assets, not only to withstand a crunch, but to build people’s dreams through entrepreneurship, education and property ownership is creating something that Oakland artist and entrepreneur Xochitl Guerrero (pictured right) finds precious.
Her growing business as an artist, activist and teacher showed potential, but kept her financially on edge. She participated in AnewAmerica's Savings Match Program funded by NCG member Y&H Soda Foundation. Once she was able to hit her target of $2,000, AnewAmerica matched her savings which allowed her to buy essential items to take her business to the next level.
On November 17th NCG is co-sponsoring Building Financial Security for Bay Area Families: New Data, Partnerships and Solutions with the Bay Area Asset Funders Network and Citi Community Development. We will hear about the new data characterizing financial security for families in the Bay Area and discuss ways to take a leadership role in supporting their financial security.
To learn more about Xochitl Guerrero, her work and the program she used, read AnewAmerica's spotlight here.