The Empower Society is a policy initiative that helps ensure long-term financial stability for families and communities by providing for their basic needs while, at the same time, offering them the knowledge and tools necessary to establish a long-term financial plan.
The cornerstone of the Empower Society are the Centers that will be located throughout the nation. These Centers provide integrated service delivery to vulnerable families and helps them maximize their financial resources. The Empower Society will also facilitate 1787’s U.S.S. RocketShip program (and it’s six Rocket Fuel initiatives). < Note: One of the recommendations in Operation Overhaul is that, now that 92 percent of American households have Internet service, federal services need to move online when at all possible. However, Empower Society Centers need to remain “brick-and-mortar,” having a physical location where clients can interact and participate in person. >
The U.S. government already has something that resembles these Centers, called American Job Centers. These Centers supposedly provide a full range of assistance to job seekers, including search assistance, referrals, and placement assistance. Unfortunately, many of the existing 2,300 American Job Centers and their programs are outdated and ineffective. That said, there is no reason they can’t be reinvented and reenergized. At a minimum, the existing Centers provide an established infrastructure and framework that we can build on. As promised, no new funding is required – just a reallocation of resources – and we will leverage federal dollars with public/private partnerships, philanthropic resources, and other assets from the local communities.
The overriding goal of the Empower Society is to make sure every American has the tools and resources they need to succeed and, most importantly, that they feel valued and respected. Fundamental to our success is that we create an environment where people feel a sense of ownership and where they are… well… empowered. To that end, each Center will have a Community Board of Directors elected by the clients who use that facility. Photos of the Community Board of Directors will be prominently displayed in the foyer. The Community Board will meet once a month, in a meeting open to the public, and the entire community will have the opportunity to speak.
Every Center will be a vibrant and energetic place to be! No more drab gray walls, 3-legged chairs and beat-up card tables from the 70’s. A coat of paint costs practically nothing but means absolutely everything. At the heart of the Center is technology, to include a media wall that showcases job opportunities and community events, flat screen televisions tuned to news channels, desktop computers, and interactive touch screen tables, which deliver content in a more sociable and fun way than a desktop computer.
The bottom floor of the Center will focus on financial and social services, as well as other income assistance. Partner agencies will be given free space to help clients find resources for food, health care, housing and emergency services as they transition to self-sufficiency. The bottom floor also offers services that provide the knowledge and tools necessary to establish long-term financial plans. Highly qualified Certified Financial Advisors will offer personalized financial counseling, to include debt management, credit counseling and budget advice.
These Financial Advisors are key. One of their most important jobs is to help develop long-term financial strategies for clients. This includes establishing long-term financial goals, implementing asset-building strategies, and periodic reviews of the client’s progress. Clients are advised of achievable investment opportunities and low-cost financial products to help them increase their savings, obtain assets, and, ultimately, build wealth. Rich people are not the only ones who need this type of advice. Even saving $1/day is a great start. It’s more than the money… it’s a mindset.
The first floor will also have Bank On tellers. The Cities for Financial Empowerment Fund (CFE) is a 501(c)3 corporation that “supports local coalition and financial institution efforts to connect consumers to safe, affordable bank accounts.” CFE’s mission is to “leverage municipal engagement to improve the financial stability of low- and moderate-income households by embedding financial empowerment strategies into local government infrastructure.”
This is super important because around 4.5 percent of U.S. households (around 5.9 million adults) are “unbanked,” meaning they don’t have a checking or savings account; almost 14.1 percent of U.S. households (around 18.7 million adults) are underbanked, meaning they still use some fringe financial services; and nearly 29.2 percent of unbanked and 38.1 percent of underbanked households earn less than $30,000 per year. In America, 36 percent of black households and 33.4 percent of Hispanic households are unbanked or underbanked, compared to less than 12 percent of white households.
The first floor will also have high-tech classrooms. These provide financial education seminars, parenting classes, English language classes, healthy lifestyle sessions, and after-school and summer programs. Plus, a children’s bank and bookstore will allow kids to make deposits into their own accounts and use checks and/or debit cards to purchase books and school supplies, which will help them learn financial skills as well as the value of a dollar. There will be a world-class childcare facility on site, as well as a full industrial kitchen. The kitchen will offer nutrition classes for clients and give clients the opportunity to prepare healthy meals for their families at a low cost. A Concierge Service will be available to assist clients with lifestyle management.
Because a steady source of income is the first step to financial stability, the entire top floor of the Center will be all about jobs, jobs, jobs (in partnership with 1787’s U.S. Works). The top floor of the Center will provide everything necessary to have a successful job search, including help with resume creation, personalized voice mail boxes, private mailboxes, and access to a mailing address. There will be computer terminals for job searches, newspapers, job boards and access to interview clothing. High-tech classrooms offer college and career readiness classes, GED and SAT prep courses, computer courses, personalized job skills training, goal planning sessions and interview practice sessions.
One of the most exciting programs at the Empower Society is The Co-Op. There are two parts to The Co-Op. The first part is modeled after a traditional co-op, where people join together and cooperate for their mutual social and economic benefit. For example, when someone comes to a Center, their skills and personal characteristics are assessed. For example, it’s discovered that Leonard has childcare experience, Sheldon has a Class A driver’s license, Raj has extensive line cook experience and Howard has been a plumber’s apprentice. Raj will help prepare a hot breakfast and sack lunches for everyone in The Co-Op; Leonard will provide childcare for Raj’s son and Howard’s daughter at the childcare facility; and Sheldon will drive Howard to and from work in the Center’s van.
Howard will be going to a job created by the second part of The Co-Op. This part not only facilitates the jobs created by U.S. Works, but it also pursues opportunities that create value so that the Empower Society can earn money. For example, the Center can purchase homes in depressed neighborhoods, put people to work renovating them, then sell the homes for a profit. U.S. Works will engage current and retired tradesmen to oversee and train Co-Op clients for this type of work.