Financial Stability Coalition

GOAL:  Community members learn skills to become financially independent.

SUCCESS STORY

A family of 4 from the Wisconsin Rapid area applied to Good Start Grants (GSG) because their assistance with Birth to 3 was ending. Their youngest child was born with a rare genetic condition called Angelman Syndrome. He is very happy and healthy, but with this condition comes a lot of additional costs that were not expected. Diapers and wipes well beyond the age of two, medical bills, adaptive equipment, etc. Both parents work full time, but have stressed that GSG helps take the burden of child care costs off their shoulders and makes things easier in all other areas of their lives so they don't fall behind on other bills.

 

LOCAL RESULTS

  • Less than 1/3 of Wisconsin’s struggling households have emergency savings.
  • United Way brings community members together to share resources and make a greater impact through coalitions – the Financial Stability Coalition helps educate community members through quarterly informational newsletters.
  • Over 40 coalition partners shared information about fraud and financial scams in 2023.
  • Basic financial education is necessary to reach financial stability and independence.
  • United Way’s Financial Stability Coalition established the Finance and Investment Challenge Bowl event, driving student interest & engagement in financial education.
  • 84 United Way’s Financial Stability Coalition established the Finance and Investment Challenge Bowl event, driving student interest & engagement in financial education.
  • $1,294.52 was the average return received by the 48 individuals who utilized MyFreeTaxes to file for free in 2023.
  • 2,391 hours of quality child care were provided through a partner program in 2023 allowing parents to remain employed.
  • 914 students with financial need received free school supplies through Stuff the Desk in 2023.
  • Over 100 volunteers made in impact through Stuff the Bus/Desk, Finance & Investment Challenge Bowl and the Financial Stability Coalition in 2023.

Source:  Financial Stability Coalition, United Way of South Wood & Adams Counties, Financial Stability Coalition

SUPPORTING INFORMATION

  • ALICE is an acronym for Asset Limited Income Constrained Employed. The ALICE Report is a means to define and understand the individuals and families working hard but not earning enough to afford basic living needs
  • 32% of Wood County households and 43% of Adams County households are considered ALICE
  • With rising healthcare costs, seniors are the largest growing segment of ALICE households. 39% of Wood County seniors and 47% of Adams County seniors live below the ALICE threshold
  • Unable to save, ALICE households may be one unexpected expense or emergency away from spiraling into poverty

Source:  United Way of Wisconsin ALICE Report 2018, Financial Stability Coalition, Financial Stability Coalition 

MORE LINKS:

View the 2023 Fight Fraud infographics here

View the 2022 Funding Your Future newsletters here