Robert Hanson, director of the Birmingham-based Alabama Asset Building Coalition, met with officials at CB&T to learn more about available partnerships and assets to help better assist low and middle-income working residents with state and federal services.
The nonprofit coalition promotes financial stability through encouraging savings, financial education and other wealth building programs, according to Hanson
In doing so, Hanson
said the coalition focuses on financial literacy and programs such as Individual Development Accounts (IDAs), Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) assistance programs.
Hanson said he also works with the Alliance for Economic Inclusion with the FDIC, the Bank of Alabama, Alabama Arise, and participates in college and university freshman forums.
said IDA programs are generally a two to one savings match program that encourages savings by the state matching funds up to $2,000 for participants, who are then able to put the assets toward a first-time home purchase, a small business startup, or secondary education.
"In this economy, it's going to be a tough road for us to move up to get adequate funding for IDA's through the state.
However, the point that the governor signed the bill shows that we are moving forward," Hanson
said the organization is expected to meet in Ozark again some time in the fall, as well as to host its first forum in the Wiregrass area.
"We're in Birmingham but we are certainly interested in being here, and we do that through the contacts and connections that are located in this area," he
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