Service is our way of life - Washington Service Corps



Financial Literacy 19/20Hello, my name is Robert Brader, the WSC Performance Measurement Coordinator. In this session, I’ll be discussing Financial Literacy, but first a little bit about performance measures. Performance measures are measurable indicators of a program's performance as it relates to member service activities. Performance measurement is the process of regularly measuring the services provided by your program and the effect your program has in communities, in the lives of members or community beneficiaries. The main purpose of performance measurement is to strengthen your AmeriCorps program, to foster continuous improvement and to identify best practices and models that merit replication. Performance measurement will also help to identify programmatic weaknesses that need attention. As a CNCS intermediary, WSC is required to ensure that all Service Sites Establish, track, and assess performance measures for their programs. Establish ambitious and realistic performance measures in consultation with WSCEnsure that programs under our oversight collect and organizes performance data on an ongoing basis, at least quarterly Ensure that programs under our oversight track progress toward meeting performance measures;Ensure that any program under our oversight corrects performance deficiencies promptly; and fairly present the results in reports to WSC. In this session, I’ll talk about the community problem, evidence of effectiveness, the intended intervention and the data collection requirement for tracking the output and the outcome.Negative financial outcomes and low levels of consumer knowledge make it clear that financial literacy in Washington is a priority.The number of financial decisions an American citizen has to make continues to increase, and the variety and complexity of financial products continues to grow. As the data indicates, adults often do not fully understand debit and credit cards, mortgages, banking, investment and insurance products and services, retirement planning, and many other financial topics. Financial literacy among our citizens is critically important. Participants were more likely to open deposit accounts, save money, use a budget, and have increased confidence in their financial abilities compared with prior to their participation. It does appear if your carry out the money smart curriculum with fidelity your program is likely to increase financial literacy. Longitudinal Evaluation Money Smart Financial Education CurriculumProvide financial literacy education to economically disadvantaged adults with regard to credit management, financial institutions including banks and credit unions, and utilization of savings plans.WSC recommends project sites follow an evidence informed curriculum such as Money Smart or a comparable curriculum intended to improve knowledge of checking, savings, budgeting, and credit.Money Smart helps individuals build financial knowledge, develop financial confidence, become more money-savvy, and use banking services effectively.Provide an unduplicated Count of all Economically Disadvantaged Adults 18 year and older. Economically disadvantaged - Sites that do not have established processes for collecting Economically Disadvantage eligibility from participants must require all program participants to self-attest to their eligibility when they enroll for services. Self-attestation must be done on a written form, signed by the participant, indicating that they meet income requirement to receive at least one of the following criteria: 1) is a recipient of Temporary Assistance for Needy Families (TANF), Supplemental Nutrition Assistance Program (SNAP), the State Children’s Health Insurance Program (SCHIP) or Section 8 Housing Assistance OR 2) has a poor credit score OR 3) is at least 60 days behind on one or more personal/family bills.Determine improvement by comparing the pre- and post- training survey results. WSC defines “improvement” as three correct questions above the pre-test score. Report the number of individuals in the outcome who increase their knowledge of Financial Literacy. ................
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