JPMorgan Chase Foundation Supports Asset-Building Coalition

FOR IMMEDIATE RELEASE: September 23, 2015


CONTACT:

Andy Fraizer, Executive Director, IACED, 317.454.8535, afraizer@iaced.org

Kelsey Clayton, Manager, Indiana A&O Network, 317.454.8540, kclayton@iaced.org


The Indiana Association for Community Economic Development (IACED) announced today that it has been awarded a $60,000 grant from the JPMorgan Chase Foundation to support the Indiana Assets & Opportunity Network (Indiana A&O Network), a statewide coalition co-led by IACED, the Indiana Institute for Working Families (IIWF) and the Local Initiatives Support Corporation (LISC).

The Indiana A&O Network aims to increase asset acquisition for low-wealth Hoosiers and to strengthen local economies through policy advocacy and capacity building, in partnership with local organizations and coalitions.

The JPMorgan Chase Foundation’s support will help the Indiana A&O Network continue to address the need for expanded asset-based strategies throughout the state. “Our goal is simple - be the catalyst to meaningful, positive and sustainable change within high need communities,” said Al Smith, chairman of JPMorgan Chase Indiana. “This partnership is an investment in quality of life for these communities.”

The efforts made by the Indiana A&O Network will focus on creating and maintaining financial capability programming, innovative solutions to asset-barriers, and hosting thoughtful facilitations with coalition partners around systemic issues that plague communities.

The Indiana A&O Network has also identified three 2016 policy priorities among its complete list of strategic priorities, which reflect statewide opinion based on a survey conducted at the end of 2014. The priorities include preserving and expanding Earned Income Tax Credits (EITC), eliminating asset limits, and reforming payday lending. The Indiana A&O Network advocates against systems that limit opportunity for success to change the dialogue that negatively impacts self-sufficiency.

Executive Director of Homestead Consulting, Marie Morse said, “As a member of the Indiana A&O Network’s steering committee, we work to find ways to increase assets for low-wealth families. As we helped families work through the past housing and economic crisis, it became increasingly obvious that more needs to be done to help all Hoosier families financially prepare for the future in order to ensure a strong Indiana.”

There are several ways to play an active role in supporting, advocating, and helping to expand asset-based strategies in Indiana: become a Network partner, sign-up for Earn, Save, Invest the Network’s monthly e-newsletter and visit indianaopportunity.net.

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