Asset building helps people save, invest in their futures and build financial skills. Oregon Individual Development Accounts are only one tool in a toolbox of “asset building” strategies. An asset can be a home, business, education, car or any tangible thing of value. On our financial journey we can run into potholes of debt, like flat tires, job loss, fender benders, or hospital bills. But a strong foundation of assets and financial skills helps us bounce back from those setbacks and get back on our journey. According to the CFED Assets and Opportunity Scorecard, Oregon ranks 22nd in financial security. This means that 36% of Oregonians could not live at poverty level for three months if for whatever reason they no longer received their monthly income.
Asset Building Coalition
Neighborhood Partnerships convenes the statewide Oregon Asset Building Coalition. Our goal is to build relevant and sustainable paths to economic opportunity.
In 2015, the Coalition’s first year, we renewed the Oregon IDA Initiative Tax Credit. As we move forward, we will advocate for legislation and funding to establish a robust Children’s Savings Accounts statewide platform.
Children’s Savings Accounts (CSAs) can help low- and moderate-income families go to college and get good jobs. Research indicates that children from families with low to moderate incomes with college savings of just $500 or less are 3 times more likely to enroll in college and 4 times more likely to graduate.