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Press Release

Release date: 8/8/2017

Contact:  
Lindsay Moore
lmoore@nw.org
202-760-4059
@neighborworkspr
 

Philadelphia symposium on economic empowerment addresses financial challenges facing low- and moderate-income families

 

NeighborWorks Training Institute will attract 1,800 community-development professionals, nearly $4.3 million in economic impact; Mayor Jim Kenney expected

Philadelphia, PA — An Aug. 16 symposium in downtown Philadelphia will explore how knowledge and skills alone won't improve a person's financial situation; policies, programs and financial products are necessary to promote prosperity for more individuals and families.

Creating Opportunities for Financial Inclusion and Economic Empowerment (HO930) is the third in a year-long series focusing on pathways out of poverty. The symposium is part of the NeighborWorks Training Institute Aug. 14-18. The week-long event is hosted by the Neighborhood Reinvestment Corporation, dba NeighborWorks America, a national, congressionally chartered nonprofit that creates opportunities for people to live in affordable homes, improve their lives and strengthen their communities.

Among the confirmed speakers at the symposium are:

  • Philadelphia Mayor Jim Kenney (expected)
  • Amelia Erwitt, Managing Director of the CFE Fund, Cities for Financial Empowerment
  • Ted Archer, Vice President, JPMorgan Chase
  • Gillian B. White, Senior Associate Editor, Business, The Atlantic

"Financial security and financial capability are not reserved for the wealthy. Many people don't realize that everyone, including those with limited income, can set aside some savings for emergencies and work to reach other financial goals," said Paul Weech, chief executive officer of NeighborWorks America. "NeighborWorks organizations around the country offer affordable financial education and coaching so people can learn how to set and reach goals, such as paying off debt or saving for retirement."

A new survey from NeighborWorks America showed that nearly 30 percent of adults have no emergency savings. NeighborWorks America created a financial capability video to show how one can address a lack of emergency savings and set and reach financial goals.

The NeighborWorks Training Institute in Philadelphia is supported by a variety of partners, including JPMorgan Chase Foundation, Wells Fargo Housing Foundation, Bank of America, HUD, Citi, Bank of the West, BB&T, Capital One and the Pennsylvania Housing Finance Agency.

In addition to the training institute, NeighborWorks organizations work every day to serve Pennsylvania. The following NeighborWorks organizations are in Pennsylvania:

  • Housing Development Corporation MidAtlantic (Lancaster)
  • Neighborhood Housing Services of Greater Berks (Reading)
  • Neighborhood Housing Services of the Lehigh Valley (Allentown)
  • NeighborWorks Northeastern Pennsylvania (Scranton)
  • NeighborWorks Western Pennsylvania (Pittsburgh)
  • New Kensington Community Development Corporation (Philadelphia).
In fiscal year 2016, NeighborWorks organizations in Pennsylvania generated more than $96 million in total direct investment and assisted 4,000 individuals and families with affordable housing.

An estimated $4.3 million boost is coming to the Philadelphia economy when more than 1,800 community-development professionals from around the country convene in the city for the NeighborWorks Training Institute.
To read more about NeighborWorks organizations' impact, view the NeighborWorks America interactive map.

For more information about NeighborWorks America, visit About Us.


About NeighborWorks America
For more than 35 years, NeighborWorks America, a national, nonpartisan nonprofit, has created opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. In the last five years, NeighborWorks organizations have generated more than $27.2 billion in reinvestment in these communities. NeighborWorks America is the nation’s leading trainer of community development and affordable housing professionals.

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