Search Results
Working Paper
Understanding community development needs through the CRA performance context
Community development efforts to revitalize low- and moderate-income neighborhoods should begin with an appropriate understanding of the needs and opportunities present within these communities. This sentiment is especially true of banks looking to fulfill their Community Reinvestment Act (CRA) obligations. A truly responsive and innovative CRA program should begin with the ?performance context,? or knowledge about the bank?s local markets, including the needs of the community as well as the opportunities that exist within the local network of resources and organizations. This paper attempts ...
Working Paper
Lessons on cross-sector community development: the Las Vegas Healthy Communities Coalition
The Federal Reserve Bank of San Francisco, in partnership with the Robert Wood Johnson Foundation, launched the ?Healthy Communities? initiative in 2010 to explore how the health and community development sectors can collaborate. A regional meeting took place in Las Vegas in January 2012, which led to the formation of the Las Vegas Healthy Communities Coalition (LVHCC), a collective impact initiative with a mission to ?foster collaboration and coordination across multiple sectors and stakeholders, to generate healthy outcomes for all Southern Nevadans.? This report details the formation and ...
Working Paper
Building a cross-sector coalition: sustainable communities for all and CA’s cap-and-trade program
Why should community developers care about cap-and-trade and what do carbon emissions have to do with low-income households? As it turns out, the fields of environmental sustainability and community development have significant overlap, particularly in the area of transit-oriented development, where issues of affordability, equity, and displacement converge with concerns such as vehicle miles traveled and greenhouse gas (GHG) emissions.
Journal Article
Impacts of COVID-19 on Nonprofits in the Western United States
Nonprofit organizations play an important role in the response to COVID-19, but the crisis is straining their ability to serve communities. This report summarizes data from a Federal Reserve survey to assess the impact of the pandemic on nonprofit respondents and the communities they serve in the Western United States.
Working Paper
The effects of the real estate bust on renter perceptions of homeownership
After almost a decade of strong price appreciation, the housing market fell into a steep decline in 2007. By 2008, foreclosure filings on owner-occupied homes were surpassing record levels. Due to the housing downturn, fewer renters may aspire to own a home, which could have lasting implications for neighborhoods and household asset building. This study analyzes the impact of the housing downturn on renters? intent to purchase a home, their perceptions of the risks and benefits of homeownership, and their interest in information and advice concerning homeownership. ; Based on a survey of 400 ...
Working Paper
Money savvy youth: evaluating the effectiveness of financial education for fourth and fifth graders
While there are studies on the impact of financial education on teens, there is a lack of research on programs targeted at elementary school-aged youth. To address this gap, we evaluated the effectiveness of Money Savvy Youth (MSY), a financial education program for fourth and fifth graders, developed by the East Bay Asian Local Development Corporation. MSY training was delivered in the classroom once a week over the course of five weeks during the 2011-2012 school year, and targeted a diverse and primarily low-income student population attending public schools in the Oakland Unified School ...
Working Paper
The Economic Gains from Equity
How much is inequity costing us? Using a simple growth accounting framework we apply standard shift-share techniques to data from the Current Population Survey (1990-2019) to compute the aggregate economic costs of persistent educational and labor market disparities by gender and race. We find significant economic losses associated with these gaps. Building on this finding, we consider which disparities generate the largest costs, paying specific attention to differences in employment, hours worked, educational attainment, educational utilization, and occupational allocation. We also examine ...
Working Paper
Bank accounts and youth financial knowledge: connecting experience and education
Studies have shown that ?experiential learning? can result in significant knowledge gains in a number of subject areas, but how does ?learning by doing? fit into the context of financial education? This new working paper explores this topic and analyzes data from the 2008 Jump$tart survey of high school seniors to examine the relationship between bank account ownership and student knowledge of personal finance. The results are informative for financial education delivery, particularly the importance of providing interactive opportunities for the application and practice of skills and ...
Journal Article
Prize Linked Accounts for Youth (PLAY): a new approach to youth financial education and saving
Mission SF Community Financial Center, a nonprofit affiliate of the Mission SF Federal Credit Union in San Francisco, CA, has developed an innovative approach to teaching youth financial education and encouraging youth to save by awarding a prize linked to their savings behavior. This article looks at the experiences of youth in the first year of the pilot program, and summarizes the pilot?s successes and challenges in providing financial education to youth and encouraging them to reach their savings goals. Although the first year pilot was small, the initial results are encouraging. Youth ...