Who We Are
The Financial Empowerment Network Seattle-King County, formerly known as the Seattle-King County Asset Building Collaborative (SKCABC), is comprised of over eighty public, private, and non-profit agencies. The underlying belief of the partners in the network is that financial knowledge and sufficient assets are crucial to help struggling families move out of poverty and towards economic self-sufficiency. We have built a system of high-quality, accessible financial empowerment services and interconnected networks to deliver these services throughout King County. Thus, we connect people with a variety of asset-building services, such as access to affordable, mainstream banking; financial planning, education, and coaching; credit and debt counseling; free tax preparation; access to public benefits; microenterprise development; and homeownership and foreclosure prevention resources.
For a list of partner agencies,click here.
Bank on Seattle-King County Provides low- and moderate-income people with access to affordable mainstream financial services, including checking and savings accounts, financial education, and credit opportunities. Learn more>
Financial Empowerment Workshop Offers resources, training, and follow-up technical assistance to help social service systems to incorporate a range of financial empowerment services, including public benefits, tax preparation assistance, access to financial services, microenterprise development, credit counseling, and financial education. Learn more>
Foreclosure Prevention Provides assistance to those at risk of mortgage foreclosure by working with advocates, lenders, and other stakeholders on education and foreclosure prevention and intervention measures. This Team provides resources and training for homeowners and their representatives on foreclosure mediation advocacy. Learn more>
Your Money Helpline Answers basic financial questions and provides resource information for case managers through an online guide.
Financial Resource Day is a one day event that combines workshops, one-on-one counseling, and other financial services,offered by a wide array of Financial Empowerment Network partners. This community-wide event features credit and debt counseling, financial planning and investment advice, credit reports, free tax preparation, access to public benefits, housing counseling, document shredding to prevent ID theft, legal assistance on bankruptcy and consumer rights, help with FAFSA applications, education and employment resources, Veterans Services, and advice on building a growing a business. The next Financial Fitness Day will take place March 22, 2014. Learn more>
Paul G. Allen Family Foundation: Disrupting Poverty: Coming Together to Build Financial Security for Individuals and Communities. The report highlights lessons and best practices garnered from the foundation’s examination of a variety of asset building strategies that they and other foundations support. The report concludes stating, “Partnership and collaboration have become the guiding maxims for helping individuals and communities disrupt the cycle of poverty and build financial security and resilience.” One collaborative model and approach noted in the report is the Seattle-King County Asset Building Collaborative, now known at the Financial Empowerment Network | Seattle-King County.
Financial empowerment training for social service programs. The Consumer Financial Protection Bureau released a report last week that summarizes the results of the national field scan, highlighting how programs that already train case managers and counselors have succeeded—or struggled—in their efforts to provide training, tools, and resources to change case manager and client behavior. The field scan, conducted from October through November 2012, included a high-level national inventory of organizations that are training case managers and other frontline staff in financial empowerment. The field-scan included in-depth interviews at five organizations whose work was of special interest: Seattle-King County Asset Building Collaborative (SKCABC), United Way of Greater Cincinnati, Louisville Metro/Living Cities, The Financial Clinic, and the State of Minnesota.
Financial literacy annual report, The Consumer Financial Protection Bureau, July 18, 2013. The CFPB has undertaken a broad array of education initiatives in the last two years to implement their financial literacy strategy. This report highlights some of these initiatives.
State of The American Dream: Economic Policy and the Future of the Middle Class, Demos, June 6, 2013
Informing Students about Their College Options:A Proposal for Broadening the Expanding College Opportunities Project, The Hamilton Project, by Caroline M. Hoxby and Sarah Turner, June 2013
Frontline Report Uncovers the Hidden Costs of Retirement Plans, by Karen K. Harris, Published by The Shriver Brief, May 16, 2013, A recent PBS Frontline documentary uncovered how average consumers with actively managed employer-sponsored retirement plans are paying huge chunks of their retirement savings in fees to investment managers and financial advisors.
Report: Feedback from the financial education field,
The Consumer Financial Protection Bureau initiated an outreach
program to listen to and engage the many stakeholders who have an
interest in improving consumers’ abilities to make informed
financial decisions. This report summarizes the results of that
outreach work and outlines how it is shaping the CFPB’s work to help
consumers make sound financial decisions and navigate the financial
Published by CFPB, May 14, 2013.
Published by CFPB, May 14, 2013.
Piloting Integration: Lessons From FEGS Health & Human Services and Solid Ground, CFED convened a six-month Intensive Learning Cluster of five social service delivery organizations seeking to strengthen the financial security of the low-income households they serve. Published April 2013.
Hard Choices: Navigating the Economic Shock of Unemployment, The study examines how American families cope with unexpected financial setbacks and how those periods of economic uncertainty draw down financial resources, leaving them more insecure in the future. Published by the Pew Charitable Trusts, April 2013.
Integrating Financial Security and Asset-Building Strategies into Workforce Development Programs, by Angela Duran, Jennifer Brooks and Jennifer Medina, CFED, April 2013
Assets & Opportunity Scorecard 2013 by CFED, provides data on household financial security and policy solutioms, by state.
Imperfect Protection: Using Money Transmitter Laws to Insure Prepaid
,A recent report shows that consumer protections required by money transmitter laws are much worse than the protections offered by Federal Deposit Insurance Corporation insurance. The report demonstrates that prepaid cards are much riskier products for consumers than checking accounts. Published by the Pew Charitable Trusts, March 2013.
Banking on Opportunity: A Scan of the Evolving Field of Bank On Initiatives, by US Department of the Treasury, including a case study of Bank on Seattle-King County. Published November 2011.