NAACP Economic Empowerment &

Sustainability Programs

MISSISSIPPI NAACP STATE CONFERENCE

FRIDAY, NOVEMBER 7, 2014

NAACP ECONOMIC DEPARTMENT 2

NAACP Economic Departme

nt Economic Sustainability

A chance to live the American Dream for all.

Every person will have an equal opportunity to achieve

economic success, sustainability, and security.

NAACP Economic Game Changer

NAACP ECONOMIC DEPARTMENT 3

ECONOMIC DEPARTMENT PILLARS

• Local communities with the necessary education, resources and partnerships to develop sustainable economic models that advance diversity and equity.

EMPOWER

•That government and industry are knowledgeable, and committed to bridging racial inequality particularly as it relates to employment, wealth, lending and business ownership.

ENSURE• A movement of

concerned citizens and organization who work together to produce an inclusive and strong middle class economy for the 21st century.

GROW

OBJECTIVES:

NAACP ECONOMIC DEPARTMENT 4

ECONOMIC DEPARTMENT PROGRAM AREAS

NAACP ECONOMIC DEPARTMENT 5

Racial Economi

c Inequalit

y

Unemployment

Wealth Gap

Homeownership

Lack of Education

NAACP ECONOMIC DEPARTMENT 6

RACIAL WEALTH GAP

FAMILIES ARE LIVING ON THE EDGE

Liquid Asset Poorlack savings to cover basic

expenses for three months if job loss, a medical

emergency, or other crisis leads to a loss of stable

income.

26% of households earning between

$55,000 and $90,000 are liquid asset poor

NAACP ECONOMIC DEPARTMENT 8

NAACP Economic Partnerships

NAACP ECONOMIC DEPARTMENT 9

ECONOMIC DEPARTMENT PROGRAM AREAS

NAACP ECONOMIC DEPARTMENT 10

ECONOMIC EDUCATIONFacilitates events around the country to educate local and state conference NAACP units on financial education topicsProvides grants to individuals to perform financial education at the local level

NAACP ECONOMIC DEPARTMENT 11

Economic Education – How You can Engage?

Conduct financial education workshops at the branch level

Plug into Financial Planning Association (Free financial Planners)

Plug into community events and distribute economic education material FDIC

Connect with our National Partners Hands-on-bankNID

NAACP ECONOMIC DEPARTMENT 12

FAIR LENDING

Monitors state and federal policy related to mortgage, auto, payday, and small dollar bank lending Performs analysis of Home Mortgage Disclosure Act (HMDA) for evidence of discrimination at the lender level Meets with bank partners around fair lending issues, products, and initiatives to reduce the un- and under-banked population Researches and evaluates data and reports to determine impact on racial inequality

NAACP ECONOMIC DEPARTMENT 13

Share concerns of predatory lending and foreclosures with the NAACP Economic Department Jrichardson@naapcnet.org

Read our reports, engage in the conversations, respond to our calls to participate in CFPB hearings, and/or white house fly-ins

Fair Lending– How You can Engage?

NAACP ECONOMIC DEPARTMENT 14

COMMUNITY ECONOMIC DEVELOPMENT

Wealth Creation

Strengthening Community

Assets

Job Development

• The Community and Economic Development program focuses on wealth creation through asset development. •Wealth softens the blow of unexpected events, such as job loss or even a downturn in the economy and provides capital to take advantage of opportunity.• Assets are key drivers of wealth, community revitalization and personal financial freedom. •The Community and Economic Development Program establishes asset development infrastructure in communities of color leveraging the NAACP network and resources.

Diversity and Inclusion

1. Opportunity and Diversity Report Cards

2. NAACP and Dunkin Brands have partnered to strengthen diversity in franchising

3. The Professional Development Network (PDN) powers the NAACP JobFinder

4. Gateway to Leadership NAACP works with the United Negro College Fund (UNCF) to provide paid summer internships to students attending HBCU’s at Wall Street investment banks.

7

NAACP ECONOMIC DEPARTMENT

NAACP ECONOMIC DEPARTMENT 16

Economic Opportunity Website: NAACP.org/econ

www.NAACP.org/econ

NAACP ECONOMIC DEPARTMENT 17

Financial Freedom Campaign Media Presence

Thank You,Questions?

LILLIAN D. SINGH

LSINGH@NAACPNET.ORG

202-478-6403