Financial Credit Outcomes of IDA Participation: Longitudinal Findings

Financially vulnerable families often struggle with low credit scores. Thus, improved participant credit is often a goal of asset development programs, such as the Individual Development Account (IDA) program, but little is known about the long-term credit outcomes of participation. This article reports the final results of a three-year longitudinal exploratory study of credit outcomes for IDA participants. Using a convenience sample of IDA participants and non-participants (N = 164), data were analyzed using nonparametric and Chi-square for independence tests. Results indicate that participant credit scores improvements are achieved and maintained. Credit score is not a meaningful indicator of program completion, time to completion, or type of asset purchased for participants. Those who completed the IDA program within two years experienced the highest credit gains. Future research with larger samples is needed to further assess the impact of credit scores on program participation and completion

Policy Recommendations for Helping U.S. Households Build Emergency Savings

In households without emergency savings, an unexpected expense or financial shock can heighten stress and threaten the ability to meet basic needs. This brief, released through the Grand Challenges for Social Work initiative’s network toBuild Financial Capability for All, identifies three types of policies to enable U.S. households to save for emergencies

Financial Capability and Asset Building in the Curricula: Student Perceptions

Although social work education competencies include economic justice, and practice includes addressing client finances and assets, social work curricula lack an emphasis on these topics. Little is known about students’ perceptions of the relevancy of this information or how well their program is preparing them for contemporary practice. This study explores the perceptions of 643 BSW and MSW students and finds a general consensus that social workers have an important role in addressing client economic issues. However, respondents perceive limited use of client financial information in practice and limited coverage of the topic in curriculum areas. Results indicate respondents’ perceptions may significantly differ based on their preferred fields of practice, level, and student program status. Curricula implications are discusse

Policy Recommendations for Financial Capability and Asset Building by Increasing Access to Safe, Affordable Credit

Strong credit is a prerequisite for financial well-being, but many U.S. consumers lack access to safe and affordable credit options. This brief, released through the Grand Challenges for Social Work initiative’s network toBuild Financial Capability for All, identifies policies that would enable households to build and maintain credit and that would ensure access to credit products with adequate consumer protections

Policy Recommendations for Expanding Access to Banking and Financial Services

Access to financial services is a necessity in the modern economy, yet many households lack such access. This brief, released through the Grand Challenges for Social Work initiative’s network toBuild Financial Capability for All, identifies policies with the potential to expand access to financial services for households in the United States

Financial Capability and Asset Building in Social Work Education: “The Big Piece Missing?”

Since the 1990s, social workers have renewed the profession’s early focus on improving the financial well-being of vulnerable families. Nonetheless, most social workers receive little training and education about how to help clients build stable and secure financial lives. This study uses in-depth interviews and pre- and post-surveys to examine the effects of a Financial Capability and Asset Building (FCAB) curriculum in six Minority Serving Institutions. In-depth interviews with 24 school administrators, FCAB instructors, and faculty colleagues suggest that faculty chose FCAB content based on course goals, content utility, and alignment with social work education standards. Furthermore, faculty reported gaining confidence and students reported gaining an understanding of and appreciation for FCAB, especially as a result of practical application of FCAB concepts. Pre- and post-surveys with 147 students indicate increased confidence in helping clients with basic financial management, understanding the importance of developing appropriate financial services, and changing personal financial behaviors, such as checking one’s credit report. Despite initial positive results, the curriculum requires more extensive and rigorous testing to inform growing efforts in the profession to improve financial well-being in low-income and financially vulnerable households. This article was subsequently published in the Journal of Social Work Education’s Special Section on Financial Capability and Asset Building. an earlier version of this article was presented during the April 2015 conference, Financial Capability and Asset Building: Advancing Education, Research, and Practice in Social Work. The conference was hosted by the Center for Social Development and the Financial Social Work Initiative at the University of Maryland School of Social Work

Faculty Perspectives on Financial Capability and Asset Building in Social Work Education: A Research Report

This report is based on a study conducted in collaboration with the Council on Social Work Education. The report presents findings from a national online survey of social work faculty. Results identify financial and economic (F&E) content taught in the current curriculum, gaps in coverage, and strategies for improving the academic preparation of social workers in these areas. Findings will inform financial capability and asset-building curriculum and improve the academic preparation of social workers

Financial Capability and Asset Building: Achievements, Challenges, and Next Steps

In the midst of a global pandemic that brought untold numbers of families to a financial precipice, experts came together to examine the role of social work in ensuring financial security and equity for all. This conference report details the most recent of five Financial Capability and Asset Building (FCAB) conferences held since 2015. The two-part virtual conference, held in September 2020 and February 2021, convened leaders in the academy and in the field to discuss achievements, challenges, and next steps in FCAB

Policy Recommendations for Meeting the Grand Challenge to Build Financial Capability and Assets for All

This brief was created forSocial Innovation for America’s Renewal, a policy conference organized by the Center for Social Development in collaboration with the American Academy of Social Work & Social Welfare, which is leading theGrand Challenges for Social Work initiative to champion social progress. The conference site includes links to speeches, presentations, and a full list of the policy briefs