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Asset Building Program

More than a quarter of Americans are living paycheck to paycheck without savings or investments in equity such as a home or small business. Evidence shows that with training and incentives, even the lowest income Americans can break this cycle, begin saving, and planning for a better future. Asset development:
 

  • Promotes financial literacy, savings, and access to mainstream banking.
  • Promotes use of the Earned Income Tax Credit along with free and reduced tax preparation services.
  • Provides incentives to invest in appreciable assets for long-term prosperity.
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How We Help

  • The Asset Building Program offers start-up support and free consultation for asset building activities in communities across Washington. For more information visit the  Washington Asset Building Coalition website where you’ll find a list of local coalitions already in place.
  • Bank On Washington brings banks, credit unions, government, and community organizations together to provide individuals with access to low-cost checking and savings accounts. The goal is to help people keep more of their money for savings so they can build on their dreams.
  • The Earned Income Tax Credit (or EITC) is for people who earn low-to-moderate incomes. EITC can reduce a worker's taxes and result in a refund. This means working families and individuals can keep more of what they earn. After January 30, call 2-1-1 or 1-877-211-9274 and ask for free tax preparation.

 

EITC Marketing Toolkit 

Help us spread the word about EITC. Posters, handouts, and bookmarks are available (see toolkit links on the right).

Last year, 448,000 Washington individuals and families received $960 million in EITC refunds. However, the program still goes unused by about twenty-five percent of our state’s qualified workers because they don’t realize they are eligible. This means more than $353 million was left unclaimed last year. Please help us get the information out to those that qualify so they can file and claim it. Some of the workers who may be unaware they qualify include those:
 
• Living in rural areas
• Self-employed
• Receiving certain disability pensions or have children with disabilities
• Without a qualifying child
• Not proficient in English
• Grandparents raising their grandchildren
• Recently divorced, unemployed, or experiencing other changes to their marital, financial, or parental  status

Other Helpful Links

Check out the Washington Financial Education Calendar to learn about money management classes being offered around the state.

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