Asset Building Support
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.
How we help
- Promote financial literacy, savings, and access to mainstream banking.
- Promote the use of the Earned Income Tax Credit, along with free and reduced tax preparation services.
- Provide incentives to invest in appreciable assets for long-term prosperity.
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.
Earned Income Tax Credit (EITC) Marketing Toolkit
Help us spread the word about EITC. Posters, handouts, and bookmarks are available (see toolkit links on the right).
In 2017, 426,000 Washington individuals and families received $926 million in EITC refunds. However, the program still goes unused by about twenty percent of our state’s qualified workers because they don’t realize they are eligible. Please help us get the information out to those that qualify so they can file and claim it. Some workers who may be unaware that they qualify include those:
- Living in rural areas.
- 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.