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NeighborWorks Alaska instructor, Dave Lamothe, hauls class materials through snow in Kotzebue, Alaska |
The program’s goals are to increase credit scores, promote regular savings, reduce overall debt and create more opportunities for homeownership. As it expands statewide, the Keep the Change staff is working to support financial well-being in both rural and urban communities. Large sums of debt and unhealthy spending practices threaten individuals and families across the country, and these challenges are severely intensified for Alaskans who live in areas with limited economic opportunity.
To address this state of affairs, NeighborWorks Alaska sought a regional partner with whom to collaborate. Thanks to the efforts of a former NeighborWorks Alaska employee, the agency connected with Alaska Growth Capital, a subsidiary of Arctic Slope Regional Corp. (a private for-profit corporation that is owned by and represents the business interests of nearly 12,000 Iñupiat Eskimo shareholders).
NeighborWorks Alaska staff get creative with transportation in Ambler, Alaska |
The organizations met with village sponsors of each community (sponsors are responsible for identifying economic opportunities for their respective communities) to establish trust. Then they developed a custom curriculum and agreed to visit all eight member villages, once a year over a three-year period, for financial-education classes and forums. NeighborWorks Alaska’s partnership with Alaska Growth Capital is part of an overall strategy to support economic and social development in all Alaskan communities by helping Alaskans sustainably manage their financial assets.
NeighborWorks Alaska Executive Director Debe Mahoney is passionate about the next steps, “All people should have equal access to affordable housing. However, they also need the tools to take advantage of that access. We are committed to bringing those tools to our neighbors in rural Alaska. We know our state, we’re dedicated to improving the quality of life for all Alaskans, we understand the unique challenges of doing business here, and we have the expertise and experience to engage with clients at any point in their journey to stable housing.”