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United Way for Southeastern Michigan
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Income

Economic StabilityUnited Way seeks to ensure all people across Southeastern Michigan have the educational and economic opportunities needed to succeed and thrive. To do this, it has launched the Agenda for Change, which focuses on the three building blocks everyone needs for a good life: Education, Income and Basic Needs.

The facts

  • About 1.2 million southeast Michigan residents live below the poverty level
  • About one of every four residents of the region are a pay check away from being out on the street
  • Metro Detroit ranks No. 6 nationally in the rate of foreclosures, with one in every 68 households receiving a foreclosure filing during the first quarter of 2008

Increasing stability across the region
Everyone in our region needs to be able to support themselves, which means being smart with money, owning a home and saving for retirement. One of the best solutions to our region’s unstable economic condition is to get more people financially stable and out of distress, which will make southeast Michigan a more desirable place to live and work. We will help residents become financially independent by working to:

  • Increase financial literacy
  • Increase and sustain home ownership
  • Increase financial resources

Partnership
Alliance for Economic Inclusion (AEI) – AEI is an FDIC national initiative committed to collaboration between financial institutions, community-based organizations and other partners to bring banking services to all of southeastern Michigan’s communities. United Way is working with partners locally to help underserved populations access financial literacy and asset-building resources.

As part of the Regional Asset Building Coalition, United Way recruited nearly 100 volunteer tax preparers for the Earned Income Tax Credit (EITC) Initiative. This initiative helped complete returns for low-income individuals this past season. The EITC provides a rebate of up to $4,700 for eligible tax filers.

Individual Development Accounts (IDAs) – To date, 221 IDA participants have used their savings and matching funds provided by United Way on 94 home mortgages, 25 new or expanded businesses and 102 educational purchases. IDA participants have closed on more than $8.3 million in mortgages. 
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