Workforce and Bank Partnerships: Tales of Three Workforce Boards

To address banks’ redlining practices, Congress passed a law in 1977[1] to encourage financial institutions to conduct activities, including workforce development-related activities, that benefit low- and moderate- income individuals. Activities can take many forms, from the development of financial services career pathways training to financial education conducted by bank employees. In this webinar, experts from the field shared their activities to engage banks to provide financial coaching, workforce training, credit assistance, career preparation and other activities for adults and youth.

This webinar shares strategies to build connections between workforce boards and banks and leverage bank resources. Speakers included Amanda Sutherland from MichiganWorks! Southwest (Kalamazoo, MI); Brian Williams from the Capital Region (Albany, NY); and Nadine Jackson and Doug Saenz from CareerSource Broward (Ft. Lauderdale, FL).

Webinar participants were able:

• Understand banks’ obligations to invest in the community and how to leverage these opportunities.
• Learn effective strategies for workforce boards on implementing workforce development activities that meet banks’ community obligations.
• Hear about promising practices from workforce areas experiencing success with bank partnerships that improve employment and economic self-sufficiency for low-income people of color with disabilities.
• Learn about a “How To” guide to help workforce development boards establish strong bank partnerships to improve program participants’ employment and economic outcomes and benefit your community.

[1] The Community Reinvestment Act, enacted in 1977, requires the Federal Reserve and other federal banking regulators to encourage financial institutions to help meet the credit needs of the communities in which they do business, including low- and moderate-income neighborhoods.