An examination of the impactRead more
of the City of Chicago's
Vacant building ordinance
Woodstock analysis revealsRead more
that while purchase applications are down origination rates are up.
Refinance applications are dramatically lower.
Theory of Change, Part II: Wealth Creation and Preservation
Accion’s mission is to revitalize communities from within through entrepreneurship. During my time with the organization, I’ve learned that the value we provide small business owners involves more than simply disbursing a loan. We provide one-on-one coaching to every applicant, whether they receive a loan or not. We work with each small business owner to increase their financial literacy, credit experience, and confidence as an entrepreneur.
This article illustrates how Woodstock’s Theory of Change model applies to its work in the area of wealth creation and preservation. The specific example used here is Woodstock’s work to develop, pass, and implement the Secure Choice Savings Program, which requires employers with more than 25 employees that have been in existence for two years and don’t currently offer a retirement savings plan to automatically enroll workers into an individual retirement account. The workers have the option to opt-out.