Making a Difference In Our Community

In addition to our work, AAA Fair Credit Foundation identifies opportunities in taregeted communities to make a significant impact and affect broad systems change. Community involvement is an important part of the culture at AAA Fair Credit Foundation. Employees volunteer their time, talents and money in order to help support other valuable causes. Below is a partial listing of community service events AAA Fair Credit Foundation is actively involved in.

ConsumerCents® Financial Education Initiative

ConsumerCents® is a financial literacy education program developed by AAA Fair Credit Foundation. ConsumerCents® is designed to help individuals further understand their personal finances and how to manage them in their everyday lives by learning to modify their financial behavior so they can make better financial decisions. Financial Knowledge is Power and ConsumerCents® empower consumers to take control of their financial future.

Topics include: Setting Financial Goals, Building Wealth, Holiday Spending Guide, Organizing Financial Records, Disaster Planning & Recovery, Debt, Checking Accounts, Credit Reports, Car Buying, Identity Theft, Bankruptcy and Payday Lending.

Click Here to download free ConsumerCents® publications.

Utah Saves

Utah Saves is a statewide public awareness initiative that brings the community together to help all Utahns build wealth, reduce debt, and create long-term financial security. Modeled after the nationwide campaign, America Saves, Utah Saves arose out of the need to mobilize the community to develop proactive, systemic changes in how we deal with social and economic issues.

Financial insecurity is at the core of many of our society's social ills. Financial insecurity not only results in poverty and homelessness, but poor financial habits can also lead to poor health, domestic violence, troubled youth, and the breakdown of families and neighborhoods. With Utah sitting at the top of the nation's personal bankruptcy and mortgage foreclosure rates, there's no time to lose. We can either watch as families fall through the cracks, or we can act now to get to the root of the problem. Utah Saves attacks this growing epidemic by giving people the tools to achieve personal savings goals and eventually become financially independent. These tools include:

• Creating and sticking to a budget
• Paying for a college education
• Becoming debt-free
• Saving for retirement
• Building an emergency fund
• Starting a small business
• Buying a home

Utah Saves is directed and supported by a broad-based coalition of community partners bringing their talent, energy, influence, and resources to empower all Utahns to build lifelong financial security. Everyone is invited to take part: nonprofits, financial institutions, employers, government agencies, faith-based groups, and so on. Founding partners include AAA Fair Credit Foundation, United Way of Salt Lake, and Utah State University Cooperative Extension.

How will Utah Saves do its work?

Public Awareness: Through mass media and grassroots efforts, Utah Saves will create widespread public awareness that saving money and planning for your financial security is a must. It will motivate the public to begin saving toward a personal goal and enroll as a Utah Saver.

Coordination: Utah Saves will integrate and centralize the many great financial education and wealth-building programs already available locally. It will provide a safe gateway for all Utahns at any income level to find the specific tools they need, and help existing programs have greater reach and impact.

Programs & Services: Utah Saves will offer specific tools that complement existing financial education programs. It will make these tools available where people work, worship, and gather. These include:

• Access to great programs that match savings, assist with taxes, etc.
• Free how-to seminars on specific financial planning topics
• A range of low-cost financial products: savings accounts, mutual funds, IRAs, etc.
• Wealth-building workshops that motivate people to save and plan
• Savers Clubs to give ongoing encouragement and ideas to Utah Savers
• One-on-one mentoring, coaching, and ongoing support through volunteer wealth coaches
• Toll Free Moneyline. Savers can call the Moneyline at 1-800-350-9899 for free information, referrals and finanical counseling. Wealth Coaching services are provided by AAA Fair Credit Foundation.

Click Here for more information about Utah Saves or call 1-800-350-9899 if you're interested in enrolling or volunteering.

Utah Council on Financial and Economic Education

The Utah Council on Financial and Economic Education (UCFEE) is a diverse, bipartisan alliance of nonprofit, for-profit and governmental organizations, institutions and individuals actively engaged in supporting effective strategies to help individuals and families to achieve lasting and sustainable financial security, economic opportunity and upward mobility.

Strategic initiatives include:

• Increase the supply of starter account products that work for the low-income unbanked market by developing baseline product criteria that must be offered by all participating financial institutions.
• Raise awareness among unbanked consumers about the benefits of account ownership and encourage them to open accounts.
• Clamp down on the proliferation of check cashers and payday lenders.
• Raise state-wide awareness of the unbanked problem and potential solutions.
• Make quality money management education more easily available to low-income households.
• Help individuals and families in their efforts to save money, protect their assets and continue to build and sustain wealth.
• Encourage everyone to set personal savings goals by enrolling in the Utah Saves campaign.
• Encourage more individuals and families to utilize free tax preparation services and take advantage of federal benefits such as the Earned Income Tax Credit (EITC).
• Enact a state-Earned Income Tax Credit
• Support and expand participation in Individual Development Accounts (IDAs).
• Help employers provide financial education training in the workplace.
• Help school teachers incorporate age-appropriate personal finance concepts into reading, math, and other subjects already being taught.
• Support innovative research and educational projects.

Click Here for more information.

Bank On Utah

Often considered the “on-ramp” to financial stability, a bank account provides families with the means to save and initiate those basic financial transactions necessary for day-to-day life. Research conducted by the Federal Deposit Insurance Corporation (FDIC) reveals that there are approximately 15,000 unbanked households in Utah and 137,000 that are under-banked. These families often rely on alternative financial services, paying up to $800 annually in unnecessary fees for cashing checks. The average unbanked worker could pay $40,000 over a lifetime just to cash pay checks. These individuals also frequently fall prey to short-term, high-interest rate loans offered at a variety of fringe financial institutions, becoming trapped in endless cycles of debt.

AAA Fair Credit Foundation is the leading the charge to coordinate a Bank on Utah initiative designed to reduce barriers to banking and connectiung residents to the financial mainstream.

Earn It. Keep It. Save It (EITC/VITA)

Utah’s Statewide Campaign to Strengthen Family Financial Stability through Utilization of the Earned Income Tax Credit, Volunteer Income Tax Assistance, and Asset Formation Programs. This initiative allows low-income families to take advantage of the federal Earned Income Tax Credit (EIC), and have their taxes prepared via the Volunteer Income Tax Assistance program (VITA). In 1969 the IRS recognized the need for assisting the general public in preparing individual income tax returns. Free tax help has been available to taxpayers in one form or another since then. Free tax help consists of community volunteers who are certified in tax law and prepare individual tax returns at no cost.

We can help people - especially those who cannot afford paid tax assistance, such as low-income households, seniors, the disabled and people with English as a second language - prepare and electronically file their federal and state income tax returns.

Spanish-speaking assistance also is available at some sites. IRS certified volunteers will discuss and determine eligibility for important federal tax credits such as the Child Tax Credit and the Earned Income Tax Credit. Both credits can reduce federal income taxes and may result in refunds.

People should bring photo identification for themselves (and their spouses), Social Security Cards or Individual Tax Identification Number (ITIN) Cards for each person listed on the tax return, all wage and earnings statements (Forms W-2), interest and dividend statements (Forms 1099 or 1098), a copy of last year's tax return and any other information concerning income and expenses for the tax year they are filing for. If filing jointly, both spouses must be present to sign the required forms. Most tax help sites offer free electronic filing. Electronic filing provides the highest degree of speed, accuracy and security in filing tax returns. This year the IRS expects 53 percent of Utahns to file electronically.

Utah Residents: For more information about a free tax help site nearest you, call the 2-1-1 Info Bank, by simply dialing 2-1-1, or the IRS at 1-800-829-1040, Monday through Friday, 7 a.m. to 10 p.m. Call 2-1-1 starting in early January to make an appointment to receive free tax preparation services.
Non-Utah Residents: Call your local Internal Revenue Service office to find out about the free VITA tax preparation services in their area.

In 2004, AAA Fair Credit streamlined the appointment intake and site volunteer scheduling management process by building an online scheduling web portal system specifically designed for VITA. This system allows real-time data access for scheduling appointments, managing site schedules, and scheduling volunteers. The website allows 2-1-1 operators to locate the nearest VITA site and schedule an appointment based on the volunteer's availability and language capabilities. VITA site coordinators are also assigned supervisor access and permissions which allow them to manage the volunteers’ schedules and language abilities.

AAA Fair Credit Foundation is an authorized E-File provider.

Click Here for more information.

Utah Foreclosure Crisis Coalition

The Utah Foreclosure Crisis Coalition (UFCC) is comprised of nonprofit and for-profit entities united in the cause of bringing a resolve to the foreclosure crisis that is destroying the local housing market and quality of life of all Utah communities.

UFCC was formed to create a unified voice to stop preventable foreclosures and assist homeowners who have lost their homes through foreclosure.

GotTrouble.com

Bankruptcy Research Task Force Committee

The Utah Bankruptcy Research Task Force Committee consists of educators, legislators, businesses, nonprofits, and public policy groups interested in studying the contributing factors and unique cultural and family dynamics which affect Utah's bankruptcy rates.

The following research questions and topics are currently in progress:

• Does Utah’s unique cultural and family dynamics (predominance of LDS Church, tithing practices, etc.) affect the bankruptcy rate?
• What is Utah’s average age for first-time homebuyers and how does it compare to other states?
• What impact does financial education have on bankruptcy rates?
• What can we learn from a geographical analysis of bankruptcy filings (by county and zip code, census track, etc.)?
• Are repeat filers a factor?
• What can we learn from comparisons to other states with high and low bankruptcy rates?
• Are predatory lending practices a contributing factor in Utah?
• Do attorney compensation structures and other aspects of the local legal culture encourage a) more bankruptcy filings, and b) more chapter 13 filings?
• What role does medical debt play in Utah’s bankruptcy rate?
• What impact does small business failure; credit card debt, home mortgage debt, vehicle debt, and tax debt have on Utah's bankruptcy rate?

Participating organizations include Dan Jones & Associates, United Way of Salt Lake, University of Utah, Utah State University, AAA Fair Credit Foundation, Zions Bank, Pathway Associates, and the Utah Foundation.

Living on The Edge: Utah's Perspectives on Bankruptcy and Financial Security

Single Mom Initiative

The Single Mom Initiative began with Brigham Young University's Center for Economic Self-Reliance bringing people together for a learning lab in May 2006. Twenty-eight researchers, practitioners and sponsors participated in the meeting. The participants identified four key issues faced by single moms — finances, education, emotional health, and childcare. These four key issues have become the focus of the Single Mom Initiative's research efforts.

The Single Mom Initiative held two focus groups in September, hearing for the first time directly from single moms. The focus groups discussed topics such as single moms' top challenges, support systems, relationships with the fathers of their children, education, and definitions of success. Moms in both groups agreed that the two top challenges facing single moms are (a) finances, and (b) balancing time to manage all their responsibilities while spending enough time with their children. The Initiative is preparing for a statewide survey of single moms, which will be conducted in 2007.

Utah High School Financial Literacy

Including financial literacy in the core curriculum for public education is a bold move provided by SB 154 to help Utah's youth prepare for the choices and challenges of today's financial markets. A better understanding of personal finance will help students move into adulthood making more informed monetary decisions, realizing a greater potential for personal wealth, and fostering a stronger state and national economy. AAA Fair Credit Foundation is a partner and proud supporter of the Utah Jump$tart Coalition for Personal Financial Literacy.

The Utah high school General Financial Literacy course for Grades 11-12 includes:

• Income
• Money Management
• Spending and Credit
• Saving and Investing
• Consumer Protection
• Risk Management

Click Here for more information about the standard curriculum and committee members who collaborated together to develop the course curriculum.

Prison Reentry

We team with local partners involved in the Your Parole Requires Extensive Preparation (YPREP) initiative by helping inmates transitioning back into society through including financial education training and providing access to IDA matched savings accounts.

Clear the Air Utah Challenge

According to the Utah Division of Air Quality, if all drivers living along the Wasatch Front were to park their cars just one day per week, vehicle emissions would be reduced by 6,500 tons per year. This means that every vehicle trip counts, and every mile you devote to smarter travel pays Utah back with cleaner, more breathable air.

The Clear the Air Challenge, issued by Governor Herbert, Mayor Becker and Mayor Corroon, is a competition that gives you the chance to reduce your vehicle emissions by choosing alternatives to driving alone using TravelWise strategies. By driving less and driving smarter, you will ultimately help improve air quality, reduce traffic congestion and conserve energy in Utah. You will also be eligible for weekly and grand prize drawings by meeting straightforward, achievable travel goals.

Because air quality is a concern for all of us, the employees at AAA Fair Credit Foundation participate to help clear the air, drive less mlies, eliminate emissions, save energy and money.

Click Here for more information.

Reality Town

Employees from AAA Fair Credit Foundation provide financial literacy education to students at Title I schools. Reality Town clues students into the "real world" before they are actually required to tackle the task. It gives students a glimpse into the future of adult responsibilities. This program provides students with a hands-on simulation in which they make lifestyle and budget decisions, as they take on careers, salaries, families and the associated responsibilities of the adult world.

Students begin the simulation weeks before the actual Reality Town Day in their classrooms by learning how to write checks, balance a checkbook, fill out a job application and write a resume. Students choose a career based upon their own personal interests and current GPA. By classifying the careers in this way, students are able to see what their perspective career opportunities may include, given their current efforts and abilities in school. For example, a "C" student can’t choose to be a doctor. Students then assume that they have completed all of the necessary educational and training requirements for their occupation, and are responsible for the financial burdens of such a decision along with a family to support.

At the end of Reality Town, students reflect on the experience. Did they save or lose money? Is this how they’d really live? How does education correlate with income? This program is a great way to teach students the importance of budgeting, career choices, math skills, check writing, and other hands on skills.

Interested in partnering with us on a community service project or having us talk to your group? We welcome the opportunity to further our mission of expanding financial capability. For more information, contact jennifer Rohn at jenniferr@faircredit.org or call (801) 656-1608.