Blog Posts Categorized: Financial Empowerment http://cedam.info/category/asset-building/

Meet CEDAM’s New Manager of Financial Empowerment Initiatives

We are excited to welcome Brian Rakovitis, our new manager of financial empowerment initiatives, to the Community Economic Development Association of Michigan (CEDAM) team! Rakovitis has made his way back to CEDAM after starting as an AmeriCorps member through us. He served at United Way of Washtenaw County on the previously active Michigan Foreclosure Prevention Corps.  After his… Read more »

Legislation Introduced to Expand Payday Lending Products in MI

Identification, an open bank account and a steady source of income are the only three items you need to take out a payday loan. Regardless of your credit score, payday lenders give out these loans (meant to be paid by the borrower’s next paycheck) that are small, but are accompanied with mountainous interest rates. In… Read more »

Step Forward Michigan Program Helps Struggling Homeowners

Written by Chad Coffman Financial troubles can strike suddenly. An unexpected expense, sudden job loss or medical emergency can make it hard for a family to pay its mortgage, property taxes or condominium fees. Fortunately, the statewide Step Forward Michigan program can help homeowners stay in their homes by giving them the money they need… Read more »

MEIC Learning Exchange 2017 Recap

On Friday, June 16, practitioners throughout Michigan gathered in Lansing to discuss the state of their Volunteer Income Tax Assistance (VITA) Programs at the Michigan Economic Impact Coalition’s (MEIC) annual Learning Exchange. The 2017 filing season came with both new and recurring challenges: new filing software (TaxSlayer), volunteer recruitment/retention and building programs with low capacity…. Read more »

Did You Know About These Two Michigan Tax Credits?

Michigan is a unique state in many ways. Some obvious, like its magnificent topography, numerous beaches and picturesque shorelines. Some, not so obvious, like its income tax credits for low- to moderate-income households. This is one of the reasons why across the state there are free tax sites open year-round to help Michigan taxpayers file… Read more »

A Look Back at May: National Community Action Month

May was National Community Action month! Throughout May, attention was drawn to the role that Community Action Agencies have in helping low-income families achieve economic stability. Several governors and mayors around the U.S., including Michigan Governor Rick Snyder, proclaimed May “Community Action Month”. Snyder stated: “[C]ommunity action has put a human face on poverty for… Read more »

Taxes Due Soon!

Written by Ross Yednock, Program Director of MEIC Are you still waiting to file your 2016 federal and state taxes? There is less than a month before they are due on Tuesday, April 18 (NOT the usual 15th). Make the call today to 2-1-1 or visit MichiganFreeTaxHelp.org to find a location near you where you… Read more »

Expect EITC Delays in 2017

Written by Ross Yednock, Program Director of the Michigan Economic Impact Coalition (MEIC) ___________________________________________________ “Everyone can begin filing their taxes as soon as tax season begins; however, due to the Protecting Americans from Tax Hikes (PATH) Act passed in December of 2015, the IRS must hold all refunds with either a EITC or ACTC claim… Read more »

CFPB’s New Rule

Written by Heidi Kurniawan, Policy Intern In Michigan, there are more payday loan stores than there are McDonald’s and Tim Horton’s franchises combined. Advertisements for these loans make them seem like a fast and easy way to get cash when you’re in a financial bind. What they don’t tell you, however, is that four out… Read more »

The Municipal Effect

Written by Megan Kursik, Coordinator of the Michigan Communities for Financial Empowerment In 2013, the City of Lansing was one of five cities competitively selected to launch a Financial  Empowerment Center to seamlessly integrate free, professional financial counseling with core city and nonprofit services. It’s now more than three years later and the cities came together last week to… Read more »