On Monday, September 25th, Midas' Ginger Haggerty testified in front of the Massachusetts Joint Committee on Financial Services in support of the Debt Collections Fairness Act. With nearly 25% of Massachusetts residents having one or more debts in collection, owing an average of $4602 per debt, it reinforces the need for a just and transparent system. Far too many Massachusetts families face a spiraling debt trap when attempting repayment, with snowballing fees, the threat of arrest, and more. Read our testimony here and coverage of the hearing here.
Wednesday, October 11th - 9:30am-12:30pm at the Massachusetts State House, Boston, MA
MassSaves members will host a briefing with elected officials and supporters highlighting the support for legislation (S.249, H.261) that acknowledges that every student in Massachusetts should have access to financial tools to build financial responsible lives. Join us in making our voices heard for a stronger Massachusetts. Register here.
All across Massachusetts, families are stressed about their finances. Rising costs, wealth inequality, lack of financial education, and much more are making it harder to feel financially secure. Many of those families entrust Midas and our member organizations with creating a pathway to a better tomorrow. Through our tested and proven strategies, we are advancing financial security and helping families thrive.
Join us at our annual Assets & Opportunity Reception on October 4th to celebrate these successes, honor champions within our field, and expand our reach. As a collaborative, our impact on promoting more prosperous communities across the state would not be possible without YOU! We look forward to sharing this special evening together.
On July 25, 2017, Prosperity Now (formerly CFED) released the 2017 Scorecard. Despite an unemployment rate that has ticked downward and an overall improved economy, large numbers of Massachusetts families continue to struggle to save for a more prosperous future. 30.4% of Massachusetts households are liquid asset poor, meaning they have so little savings that they could not live at the poverty level for just three months if they lose a job or suffer another significant income loss. A new measure also shows that while 42.8% of households in the state did not set aside any savings for emergencies in the past year, that number is lower than the national rate of 43.7%. The data highlights the need for continued efforts in building awareness and support to advance the financial security of Massachusetts families. Learn more here.
"When asked why her efforts over the years for economic equality have been worth her time and energy, Acton resident Margaret Miley chuckled, “I guess my parents raised us all to leave the world a better place. And my version of it was in economics.”
On June 21 at the State House, the Massachusetts Commission on the Status of Women honored Miley as one of the state’s Unsung Heroines after being nominated by state Sen. Jamie Eldridge, D-Acton, for her devotion to community improvement."
Read the full article here.
Building Connections to Improve Financial Education
On April 28, 2017, the MassSaves Summit highlighted the best of our community. The continued interest in the Summit from all sectors reinforces the desire and commitment to improve the quality and delivery of financial education at every stage of life. We had over 120 attendees united to build and safeguard the financial futures of individuals and families across New England. Attendees learned about the value of financial planning from the Financial Planning Association of Massachusetts, new initiatives by State Treasurer Deborah Goldberg, the important role we play as advocates, and much more. As we incorporate what we've learned and outline next steps, we look forward to strengthening the connections we've made for a stronger financial future for all. Check out Worcester Telegram & Gazette's profile of keynote speaker, Beth Kobliner, that highlights the work of the Summit.
Thank You To Our Generous Summit Sponsors:
- Monson Savings Bank
- Boston Private
- Metro Credit Union
- Santander Bank
- RTN Federal Credit Union
- Jump$tart Massachusetts Coalition
- People's United Bank
- Pawtucket Credit Union
Nelson Ortiz brings more than 17 years of communications, digital strategy experience
Boston – April 20, 2017 – The Midas Collaborative’s Board of Directors announced Nelson Ortiz today as its newest Board member. Ortiz is a communications and digital strategy expert with 17 years of experience across the financial services and nonprofit health insurance industries.
“We are thrilled to have Nelson as part of the Board of Directors. Nelson has the right experience and leadership to govern the organization forward,” said Angela Gomes, interim Board Co-Chair. “The Board is comprised of diverse individuals from various fields with a strong commitment to economic justice, including representatives from Midas member organizations.”
“I am honored to join the Board of The Midas Collaborative. Midas and its members have always been at the frontline with regards to asset building and protection which also include innovative programs such as remote financial coaching, and quality financial education. I look forward to promoting and enhancing the programs Midas offers to create a stronger financial future for all,” said Ortiz.
Read the full press release here.
The Midas Collaborative is a network of innovative nonprofits across Massachusetts united in create a stronger financial future for all. Members and partners meet quarterly to network, share and learn. The recent member meeting was a webinar focused on strengthening financial coaching programs. Check out the recording to learn what efforts Midas and its members are doing to professionalize the field and engage clients.
Mark your calendars! The 9th annual MassSaves Summit will be held on Friday, April 28, 2017 at Worcester State University in Worcester, MA.
The Summit is an opportunity for teachers, financial educators, and supporters from all backgrounds to network, share, and learn to improve financial education. Check out the agenda including keynote speaker, Beth Kobliner, Journalist and New York Times Bestselling Author. The 2016 Summit focused on a multi-generational approach to building financial foundations that we plan to improve upon in 2017. Further details on the agenda will be shared shortly but don't miss out on reserving your spot today.