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The Financial Well-Being of Detroit Residents: What Do We Know?
Wednesday, July 28 @ 1:00 pm — 2:00 pm
In January, you attended a community conversation hosted by United Way for Southeastern Michigan and University of Michigan’s Poverty Solutions to discuss the reasons why Detroiters face persistent and disproportionate financial disadvantage compared to peer cities. More than half of Detroiters are financially insecure or in financial trouble. Detroiters have lower and more volatile incomes, higher costs of living, higher rates of subprime credit and debt in collection, and higher rates of foreclosure, eviction, and bankruptcy. The University of Michigan’s Poverty Solutions’ report, The Financial Well-Being of Detroit Residents: What Do We Know?, revealed that these disadvantages are the result of deep structural inequities and systemic barriers to financial well-being.
Existing tools and services are insufficient to tackle these challenges. That’s why United Way for Southeastern Michigan is launching a Detroit Financial Well-being Innovation Challenge in partnership with University of Michigan’s Poverty Solutions. This Challenge will provide funding and support to drive innovation and catalyze transformative change to improve financial well-being for Detroit residents.
The Innovation Challenge is currently in the planning stages. We are committed to incorporating feedback from a diverse group of potential applicant organizations, front-line staff, and Detroit residents with direct experience of financial instability into the Innovation Challenge design.
In late July, we will be hosting two feedback sessions to gather input from organizational stakeholders. Your feedback will help us ensure that the Innovation Challenge is successful in receiving applications from a broad range of organizations, that the selection process equitably identifies the most promising ideas from organizations best positioned to achieve transformative change, and that we provide sufficient and appropriate technical assistance to participating organizations.
To participate, please click the link below to register for the session most appropriate to your organizational role:
Feedback session on Innovation Challenge design for Frontline Staff: Tuesday, July 27th, 11am-12pm. Register here: https://zoom.us/meeting/register/tJYrd-isqjIqHNFEF4X_rKp_GG6IGhSPKq_-
Feedback Session on Innovation Challenge design for Organizational Leadership: Wednesday, July 28th, 1pm-2pm. Register here: https://zoom.us/meeting/register/tJMlduGurTMqG9doP-2PYKlhgkq-DQf_V0u3
If you have any questions about this initiative or trouble registering, please contact Kalaya Long at Kalaya.Long@liveunitedsem.org or 313–226‑9314
Thank you for your partnership on this initiative and all that you do for our community. We look forward to learning from you.