What are the goals of IABG?
IABG seeks to expand opportunities to build and protect personal assets, such as education and health, and financial assets, such as savings accounts and home ownership. We aim to partner with low-income people and communities to insure policies allow all Illinois residents to participate in asset building.
IABG policy work aims to:
- Build personal and financial assets: IABG supports public policies that create opportunities and incentives for low and moderate income individuals and families to acquire assets and to develop the skills and resources needed to be financially secure.
- Increase opportunities for savings and investment: A necessary precursor to asset building, savings and investment are critical components to financial stability in the short and long term. IABG supports policies that encourage savings, increase access to financial services, and remove barriers to savings and investment.
- Protect existing personal and financial assets: Temporary set backs, such as job loss or medical emergencies, can put families at risk of losing acquired assets or falling prey to predatory lenders. IABG supports policies that protect individual and family assets.
- Promote financial education: Financial literacy is an essential life skill underlying economic stability, yet individuals at all income levels lack basic knowledge about savings, budgeting, credit, debt, and investment. IABG supports policies that promote financial education that equips all Illinois residents with skills to make informed decisions about their economic wellbeing.
Since its inception, IABG has been made up diverse organizations that are commonly invested in asset building and committed to contributing their areas of expertise toward advancing policy solutions. The multidisciplinary makeup of IABG has enabled us to pursue a multipronged strategy, leveraging the unique skills contributed by our partners. Key components of our overall strategy include:
- Public education via community meetings, policy briefings, and in person meetings with key stakeholders;
- Outreach and constituency building among key stakeholders such as elected officials and policymakers, service providers, financial and investment institutions, researchers, low-income and low-wealth individuals and communities, advocates, and others. Creating meaningful partnerships in order to achieve change;
- Strategic communication via the IABG website, written fact sheets and reports, media outreach, and public events; and,
- Research and policy analysis including review of state and national asset policies, exploration of various program models, and advancement of recommendations and solutions that incorporate input from IABG members and key constituents.