Econ Tracker

Corporation for Enterprise Development highlights financial data

Posted: Jan 31, 2013 8:04 PM by Tara Grimes - MTN News

GREAT FALLS - The non-profit group Corporation for Enterprise Development is showing off data in the form of scorecard, and hopes to influence Montana's lawmakers.

Their scorecard focuses on poverty, wealth, and financial security in each state.

It shows that 40% of Montana households are liquid-asset poor, which means they have less than three months of savings to fall back on.

The company also says nearly half of Montana's consumers have sub-prime credit.

Montana also ranks 49th in the nation for the number of families covered by health insurance, according to the agency.

Staff at Rural Dynamics say there are things residents and lawmakers should do to improve these numbers.

Karen Heisler, RDI asset development director, said, "We need to encourage people to build assets so they have something to fall back on because if they don't have something to fall back on, what happens? They go to public support, their churches, their family and friends to help them out. We need to look at policies that help them build their wealth, whether it's matching savings, tax credits for savings, things like that."

Heisler says introducing school classes geared towards financial education could help, as well as expanding healthcare coverage.

She would also like to see lawmakers help bring livable wage jobs to Montana, along with the training programs that allow workers to get these jobs.

The CFED website offers more information, including this overview:

The Corporation for Enterprise Development (CFED), a national nonprofit 501(c)3 organization, empowers low- and moderate-income households to build and preserve assets by advancing policies and programs that help them achieve the American Dream, including buying a home, pursuing higher education, starting a business and saving for the future. As a leading source for data about household financial security and policy solutions, CFED understands what families need to succeed. We promote programs on the ground and invest in social enterprises that create pathways to financial security and opportunity for millions of people.