Hey everyone, my name is Hunter Jacobson and I am a senior finance major at the University of Portland and I am excited that I have been able to be a part of the Interns for Justice program during the Summer of 2018.
For the past month I have been interning at an organization called Innovative Changes.
Innovative Changes was created as a branch of Innovative Housing, which is an organization that aims to help underserved communities find affordable housing in the Portland area. Over time it became apparent that the clients at IH were using predatory financial products such as payday loans and overall had a lack of understanding of the financial system and their own financial situation. As a result IC$ was created to help bring financial knowledge to the same underserved communities.
Innovative Changes administers a four-part financial empowerment workshop that aims to give people the tools to take back control of their financial situation. IC$ also offers one-time classes such as student loan coaching and retirement focused workshops. Additionally, IC$ is one of many authorized organizations in Oregon that sets up Individual Development Accounts (IDAs). IDAs are a way for people who may not have real savings to save some of their money and have it matched by a partner organization such as IC$. IC$ will match each dollar 3 to 1 up to $3000. This means that once an individual has saved $3000 they will actually have $12000 in their account due to the matching. These accounts need pre approval for withdrawal and can only be used for certain things like education, home repair, home buying, car buying, etc. This is an awesome program that should be replicated nationwide as it provides a way for people to get back on their feet or pay for unexpected expenses like home repairs and medical bills.
Through all of the workshops mentioned above, clients can learn about our coaching program at IC$ in which we find volunteers who are willing to meet with clients one-on-one in order to be a financial support system and help find ways that clients can best manage their finances. This program is one of my favorite parts of IC$ because it shows a willingness from the clients to want to be better and a willingness of the coaches to create change in their community.
IC$ is a program of a larger organization called CASA of Oregon. This organization develops low income housing especially in rural farming communities around Oregon. Fortunately, I was able to attend an all staff meeting at the CASA office last week and I was really inspired by all of the people there. It was no secret after several different meetings throughout the day that working in the nonprofit world is not carefree and easy work. The money isn’t the best, you see and deal with difficult things everyday, and the stress can get to people at times, but as my boss Rachell Hall told me; “It’s hard work, but it’s heart work.” I could tell that saying was buried deep in the minds of all the 20 plus employees in the CASA office that day. Difficult things were discussed and one of the CASA employees was working her second to last day at the office, but everyone was still upbeat and excited about the future because of the opportunity that they have to create change every single day. That experience truly inspired me and made me realize the importance of finding a career that excites you and gives you a true sense of purpose.
One specific experience that I would like to share is my experience of attending one of the workshops last week. The room was filled with people of all ages that all came from different financial positions. I could tell from the atmosphere that no one quite knew what to expect and there was a clear sense of nervousness in the room. This theme quickly dissipated as the class went on. The facilitator created a welcoming environment and people quickly realized that no matter the extent of their financial knowledge or experience, they were able to bounce ideas off each other and give each other tips to be more successful. I know that everyone walked out of that classroom with at least one financial tool or piece of information that would allow them to better their financial situation and their lives.
This workshop was a powerful experience because a bunch of people walked into the classroom at the beginning with varying knowledge of finances and varying financial situations, good and bad. By the end, they all had a little more knowledge that came not only from the facilitator, but from each individual in the workshop. It showed me that having a room free of judgement and full of people willing to learn can make a huge difference in a short amount of time.
My experience so far at Innovative Changes has been great and I look forward to being with them for a few more weeks. I hope that with this internship I can take some knowledge that I gain and potentially try to facilitate some classes of my own at UP, specifically on student loan coaching. Bringing financial education to my peers here at UP would be a great way to take what I have learned during the course of my internship and turn it into something tangible in my own small way.
Thank you for reading,
Hunter Jacobson