United Way Kicks-off Annual Fundraising Campaign

ShareThis

Earlier this month, United Way of the Bay Area officially kicked-off of its 2010/11 fundraising campaign at a gathering of business and community leaders in the Fisher Auditorium on the Mission Bay UCSF campus.

The theme of this year’s campaign, “Change the Odds,” is a call to action to Bay Area residents to join United Way in pursuit of our goal to cut in half the number of local families who live in poverty by the year 2020.  Currently, one in five families in our region does not earn enough to cover its basic needs, according to United Way’s “Making Ends Meet in the Bay Area” report.

At the kick-off, United Way announced that three volunteers will co-chair the 2010/11 campaign:

  • Kenneth McNeely, President, External Affairs, AT&T California
  • Connie Moore, President & CEO, BRE Properties, Inc.
  • Ron Peyton, CEO, Callan Associates

This team will work closely with the United Way board, staff and volunteers to engage and inspire donors. Their main focus will be to generate support for the expansion of United Way’s SparkPoint Centers211 and Earn It! Keep It! Save It! programs, as well as our other poverty-fighting investments.

Last year, our Bay Area campaign raised $34.9 million for the Bay Area under the leadership of Campaign Chair Janet Lamkin, President of Bank of America California.

“Through Earn It! Keep It! Save It! United Way gave back more than $57 million in tax dollars to more than 51,000 Bay Area residents and three new SparkPoint Centers were opened with five more in the works,” said Lamkin. “These are just two highlights of the valuable  work we are doing to reduce poverty in the Bay Area. As you can see, we are making difference. Thank you!”

Taking it All into Account

ShareThis

Payday loans can carry annual interest rates of almost 400%

The recent Great Recession has among other things caused many low- to moderate-income individuals to turn away from traditional financial services like banks. The reasons people give range from convenience  to having quicker access to their paychecks.  A recent USA Today article quotes many people who are turning to check cashing places because either they’ve had a bad experience with their bank or have been charged excessive fees.

This is part of a larger trend nationally, and certainly one that we see here in the Bay Area. As many as 26% of Oakland residents are “unbanked” (as compared with 8% of all US households, 17 million people),  with African-Americans and Hispanics much more likely to use alternate means of banking than whites.

Locally, through our Bank On initiative we’ve been trying to reverse that trend and bring families back into the banking system for a number of reasons. The convenience that many people cite has hidden costs. This is something we’ve covered in this space before as there are many different services that appear to aimed at low to moderate income individuals that promise less hassle or convenience but have hidden costs that add up quickly. From the article:

A 2008 study by the Pew Charitable Trusts estimated that the average “unbanked” household in California spends $700 a year just to cash checks. When they need to borrow money, unbanked consumers often turn to payday loans, which carry annual percentage interest rates of 380% or more.

Additionally, studies show that people with bank accounts are more likely to save and move up the economic ladder to financial security.  This is why Bank On is a key part of United Way’s strategy to help families gain financial stability as we move towards our goal of cutting poverty in half in the Bay Area.

The whole article is worth reading, and it even gives a nod to the efforts of United Ways around the country who are also using the Bank On model which works with major financial institutions to offer “second chance” accounts.

(photo via flickr user Jeremy Brooks)

Back-to-School Stress Relief: Call 211

ShareThis

August is back-to-school time.  Updating immunizations, sorting out tutoring and deciding on after-school care can be very challenging for parents and students.

211 can help make this hectic time of year a bit easier.  By simply dialing 211, families can get answers to questions such as:
* Where can my child receive low-cost immunizations?
* Are there after-school programs in our neighborhood?
* What tutoring or mentoring services are available near my home?

If your agency serves families, please download our new 211 flyer about family services and post it where your clients can see it.
Photo courtesy of Ron Miquel via Creative Commons license.