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Credit as an Asset

Exploring Credit Within the Scope of Asset Building for Americans with Disabilities. Credit as an Asset. Presented by Patti Lind.

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Credit as an Asset

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  1. Exploring Credit Within the Scope of Asset Building for Americans with Disabilities Credit as an Asset Presented by Patti Lind

  2. By the first quarter of 2010, nearly 56% of all consumers had subprime credit scores, a condition that directly impacts everything from their capacity to access quality employment and rental housing to their ability to qualify for affordable credit, banking services, car and mortgage financing.* *TransUnion Trend Data (Q1 2010). Defined as TransUnion TransRisk scores lower than 700. Based on earlier analysis of TransRisk Scores, we know that in some cities nearly three quarters of consumers have subprime credit.

  3. CFED’s* Framework for Achieving Household Financial Security • Learn → Financial Education • Earn → Financial Education • Save → Wages · Income from Business · Tax Credits · Matched Savings · Reducing Current Consumption & Debt • Invest → Affordable Financing · Access to public incentives (downpayment assistance) *Corporation for Enterprise Development www.cfed.org

  4. Iowa Able Foundation • Flexible consumer loans for Iowans with disabilities: • Assistive technology, home modification, vehicles, home repair • Microloans for business start up • Financial education Understanding Credit · Home Budgeting Basics Individual consultation · Financial Planning for Business • Partnership with IA Credit Union Foundation IDA Program • Credit Builder Loans • Basic credit building product coupled with financial education

  5. Dawn & Brittney “Pay As You Go”

  6. Daleney & Family move forward with a little help from their friends! • Improved credit • Access to mainstream financing • Saving for tomorrow • Independence is Priceless!

  7. The Abilities Fund Iowa Able Foundation 307 North 13th Street, Suite 500 Centerville, IA 52544 Telephone: 641-856-2173 ext 224 Email: prlind@abilitiesfund.org www.abilitiesfund.org www.iowaable.org 7

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