What is EARN

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What is EARN?
EARN breaks the cycle of poverty and creates new
cycles of prosperity by helping low-wage families
build assets.

• Helping low-wage families save to invest in
  homes, education, small business.
• Providing money management training, coaching and
  financial planning to help families achieve their
  dreams.
• Working at the state and local level to change
  policies that increase asset-building
  opportunities for workers.

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EARNs Asset Building Framework
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Who EARN Serves How Theyre Doing

• 2000 Savers are Bay Area residents who dream of
  achieving financial security using IDAs
• Average income is under 20k/year per household
  when Savers start
• 83 people of color, 65 women
• 64 are from households with children
• 17,000 newly banked San Franciscans through Bank
  on SF
• 300 Alums with access to financial coaching and
  planning

• EARN Savers put aside 5 of their gross income,
  avg. 75/month
• EARN Savers have put aside over 2.2 million of
  their own hard earned dollars.
• 300 Alums have invested over 2 million
• 70 Savers have purchased homes!
• Nearly all EARN homeowners have 30 year fixed
  rate mortgages
• EARN disallows predatory mortgage products
• Alumni leadership council active and engaged

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EARNs Policy Arm APIC

• APIC's vision is to create a lasting influence
  on
• Public PolicyBy driving the creation of a long
  term, strategic asset-development policy agenda
  in California. 
• LeadershipBy supporting asset-building
  champions to lead their communities, agencies,
  companies and sectors in promoting
  wealth-building opportunities for California's
  working poor. 
• Public WillBy building public support for
  asset-building policies that enable all families
  to achieve economic security.

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Keys to Success Using Data - 1

• Qualitative
• People relate to people so start with stories
  and images
• Choose stories carefully vet them for your
  target audience
• Enlist Savers/Clients to tell their stories
• Maintain Saver dignity avoid pimping
• Message development is critical and time
  intensive
• Use video and youtube

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Meet the Greens
Before joining the EARN program, we had no
savings to speak of. Now, we have achieved one of
our biggest dreams. - Adrian Green
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Keys to Success Using Data - 2

• Quantitative
• Use numbers to punctuate key elements of stories
  you present
• Choose your numbers even more carefully than your
  stories
• Use very few numbers
• Studies find that audiences forget numbers almost
  immediately but they remember stories
• Spend time thinking about your numbers no
  cookie cutting
• Are they strategically aligned with your goals?
• Will they be meaningful to the woman on the
  street?
• Are they politically and locally relevant?
• Are they rigorous and compelling?

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LAPI an Online Tool for Advocacy
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That is Highly Localized
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Keys to Effective Communications

• Advocates compete in a marketplace of policy
  ideas we need to prepare to succeed in this
  context
• Invest time and expertise in messaging
• Elevator speeches matter
• Avoid the Curse of Knowledge
• Ensure media products are high quality
• Work connections to meet key stakeholders warm
  introductions make a difference and provide
  instant credibility
• Practice on video, in groups, alone

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Confessions of an Elected Official

• All materials go to the circular file 100
• Some staff members may keep materials on file
• Emails from advocates are almost never read
  unless they are from long-trusted associates
• Subject lines matter all newsletters deleted
  immediately
• First impressions of the appearance of
  materials presented at a meeting, elevator
  speech, and poise of presenter form lasting
  opinions

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EARN APIC Success Stories

• LAPI Data is static but shocking we use it
  accordingly
• Spurred change in Marin County
• We Do NOT use it seek a new standard
• Never fails to instantly engage state legislators
• Highly localized
• Stories have been catalysts
• Mayor Gavin Newsom gives EARN too much credit
  sometimes because he remembers our stories
• Stories key in securing sponsors for asset limit
  bill

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Contact Info

• Ben Mangan
• President, CEO Co-founder
• EARN APIC
• 235 Montgomery Street, SF CA 94104
• 415-217-3662
• ben_at_sfearn.org
• www.sfearn.org
• www.assetpolicy.org