Asset Building

Just as stable employment helps families with children to improve the quality of their lives, a primary of goal of Making Connections Indianapolis is to help families with children to increase their levels of real assets (examples: savings accounts, individual development accounts, and car and home ownership). Key partners in this effort are neighborhood banks, Community Choice Federal Credit Union, community organizations, and financial education providers. Making Connections works with these partners to identify “asset pathways” for neighborhood families. This begins with financial education, budgeting, and basic banking and progresses to paying down debt, establishing credit, and pursuing asset goals (saving for education, homeownership, and retirement).

Tax Sites

Making Connections helps to support and coordinate a free tax preparation “super” site at the John Boner Community Center (2236 E. 10th St.) and a smaller satellite site at Southeast Community Services (901 Shelby St.). Taxpayers can file returns, learn about valuable tax credits, and check out other financial education services, including free credit scores and financial coaching.

Indianapolis Asset Building Coalition

Making Connections participates in the Indianapolis Asset Building Coalition, a diverse group representing banks, financial literacy educators, community organizations, and funders. This group meets monthly to discuss and review efforts and issues affecting the financial health and well-being of families living in the neighborhoods. This group publicizes information through its networks about Earned Income Tax Credits, tax preparation, and asset pathways information.

Tips for Asset Building

  1. Check out banking options at neighborhood banks. Many offer introductory programs for first-time bankers and can help to repair bad banking relationships through the “Get Checking” program.
  2. Enroll in a free financial education program to learn more about how to manage family finances and perhaps qualify for other free financial products.
  3. Visit a Center for Working Families and schedule an appointment with a Financial Coach to review credit scores, analyze your debt situation, and begin planning to improve your family finances.