Click here for a map of the coalitions and links to their profiles...
Washington State has become a national leader in asset building expansion largely due to the level of activity and results of its 19 local asset building coalitions. Many states now have statewide coalitions with financial institutions, public agencies, United Ways, housing and social service organizations promoting savings and asset building. However, only Washington State has chosen to support the formation and activities of local coalitions.
This strategy has led to a much broader and deeper involvement of organizations at the local level. Instead of seeing asset building as only a programmatic approach to change, this strategy has empowered community leaders to forge collaborative action that harnesses an array of local talents and resources. In 2005, only one community had organized around asset building. Today, 19 coalitions are organized and taking action. Local asset building coalitions typically include leaders from banks and credit unions, housing and social services organizations, United Ways, community action agencies, debt and credit counseling groups, and many other private and public entities.
For a modest investment, the state has helped communities promote savings and banking, provide financial education and planning opportunities, help with credit repair, market the EITC, and promote homeownership and business start-ups. For the 2008, 2009, and 2010 state fiscal years, the Department of Commerce has run competitive grant cycles that spurred coalition start-ups and helped existing ones expand.