Using Children’s Savings Accounts for Economic Inclusion: A Q&A with Bonnie Gettys, Rep. Julie Calley and Jessica AcMoody
Post

Using Children’s Savings Accounts for Economic Inclusion: A Q&A with Bonnie Gettys, Rep. Julie Calley and Jessica AcMoody

At CEDAM, one of our current policy priorities is to secure statewide funding for Children’s Savings Accounts (CSAs), which are community-led programs that automatically enroll students in interest-bearing accounts that will grow until they graduate from high school. These programs are designed to improve family financial literacy, boost educational attainment for low-income children, promote post-secondary...

Children’s Savings Accounts 101: What they are and why they’re important
Post

Children’s Savings Accounts 101: What they are and why they’re important

Over the past few years, Children’s Savings Accounts (CSA) programs have been increasing in popularity across Michigan. These initiatives have been proven to strengthen inter-generational financial stability and increase the likelihood that a student will continue education after high school. But what are they, exactly, and how are they helping Michigan students and communities?  In...

CEDAM to spotlight the impact of Children’s Savings Accounts  on generational wealth
Post

CEDAM to spotlight the impact of Children’s Savings Accounts on generational wealth

The organization’s July 12 webinar will host a state representative and foundation leader to discuss firsthand experience with Children’s Savings Account programs in Michigan. LANSING — The Community Economic Development Association of Michigan (CEDAM) will highlight a groundbreaking savings program to close the wealth gap on July 12 as part of their Summer of CEDAM...

Why community economic development can be used as a tool to promote equity
Post

Why community economic development can be used as a tool to promote equity

At the end of the day, community economic development (CED) is about equity.  The idea of “community” goes far beyond the residential block — communities set the stage for residents, families, and countless generations to grow and thrive. They encompass a cohesive, nuanced system of all things in our environment that impact our well-being: businesses,...

Boosting Earned Income Tax Credits participation to combat poverty & build community
Post

Boosting Earned Income Tax Credits participation to combat poverty & build community

1 in 5 Michigan households aren’t claiming tax credits they’ve earned — but we can do something about it Authors: Brian Rakovitis and Madeleine March-Meenagh State and Federal Earned Income Tax Credits (EITCs) are important anti-poverty programs that provide financial relief to hard-working, low-income Michigan households. At an average EITC value of $2,461 per federal...

Community leaders: 3 ways to use your federal stimulus to reduce poverty
Post

Community leaders: 3 ways to use your federal stimulus to reduce poverty

By Luke Forrest As we emerge from a pandemic that hit low-income workers and children inordinately hard, your community will soon deal with an injection of money that could have unprecedented impacts on eliminating poverty. As the head of a nonprofit that has worked on anti-poverty issues since 1998, I can’t state strongly enough that...

In a time of crisis, CEDAM AmeriCorps members offer essential support and hope for communities across Michigan
Post

In a time of crisis, CEDAM AmeriCorps members offer essential support and hope for communities across Michigan

More than a year after the COVID-19 pandemic took hold in Michigan, we have seen every industry impacted in one way or another — but the crisis’s unwavering ripple effect was especially evident in the area of community economic development. Eviction posed a rising threat, many people in need were not receiving federal stimulus checks,...

Michigan should take action to get more households banked
Post

Michigan should take action to get more households banked

Written by Madeleine March-Meenagh and Brian Rakovitis, CEDAM Being banked is foundational to good financial health. Without a checking or savings account, “unbanked” households pay more in fees and interest for financial products than banked households— yearly they pay up to $3,000 per household, have limited access to credit, and lack protections for their money....