December 2020 Newsletter

12/16/2020

Rebuilding Communities in New Mexico

Communities across New Mexico are facing compounded crises: socioeconomic inequity and COVID-19. And Black, Indigenous, People of Color communities are bearing the brunt—due to systemic racial inequities.

As we look ahead to rebuilding communities post-COVID, we have an opportunity to lay an equitable foundation—one shaped by intention and authenticity. In partnership with each of you, Prosperity Works is innovating proactive solutions to help limited-income New Mexicans build power through securing a home, vehicle, business, or degree.

Like Robert, a single father of four, who leveraged our IDA initiative to buy a home: "I can't express enough...how thankful I am to have started the IDA program. I advocate for financial literacy training prior to and after becoming a homeowner so that each individual stays focused and well prepared for the future."

Together, let's close the health and wealth gaps, and rebuild New Mexico equitably!

Donate today!

Wishing Our Esteemed Friend & Colleague, Raye Baldwin, Happy Retirement!

As we bring 2020 to a close, we at Prosperity Works would like to express our sincere thanks to our long-time colleague, Raye Baldwin, as she retires at the end of December.

For nine years, Raye has contributed her voice, keen editing eye, exquisite penmanship, humor, and organizational prowess to keeping Prosperity Works humming. Raye's start at Prosperity Works began with a few focused writing projects, and grew from there—with her supporting our IDA and CSA work and fundraising efforts, while sporting many other hats as well!

"I've had a very checkered—and pretty long—career. But of all the positions I've held over the years, none has given me as much pleasure or pride as being part of the Prosperity Works staff. If I've helped move our goal just a little toward realization, that makes me a happy person. Passing the baton now!"

Raye, you have certainly left your mark on Prosperity Works, and we're so grateful for your time and talent, and for having been a part of the Prosperity Works family for nearly a decade. We all wish you a happy, healthy, safe, and exciting retirement!

Thank you for supporting Prosperity Works on Giving Tuesday!

We'd like to give a big THANK YOU to everyone who supported Prosperity Works on Giving Tuesday!

Your support of our community-centered work helped us raise over $6,500 toward our year-end fundraising campaign! We could not do this important work without each of you, and are exceedingly grateful to have you as a partner in progress. Thank you!

Our Change-making Initiatives

Individual Development Accounts (IDAs)

We created our IDA initiative to help empower hardworking families through financial capability training to save, invest, and accumulate assets—to enhance their household’s long-term socioeconomic health and wellbeing.

Assets like a home, postsecondary education, or small business can promote long-term financial solvency and bridge generations.

Prosperity Kids Child Savings Accounts (CSAs)

Prosperity Kids CSAs are matched education savings accounts for limited-income households. Each CSA is opened with a $100 deposit and is matched 1:1—up to $200 per year until a child graduates high school. Parents also complete 10 weeks of financial capability and parent-child development education.

Depending on the age at which a child enrolls, they could graduate with $5,000 or more in savings!

Support Our Initiatives

Prosperity Works' Partnership with TrueConnect

TrueConnect is an employer-provided loan product that assists employees in accessing a fair loan.

Prosperity Works recognized the extent to which high-interest predatory lenders undermined individual borrowers’ long-term financial health, eroded community economic development initiatives, and advocated against legislation to protect consumers. Through our partnership with TrueConnect, employees in New Mexico have an equitable lending alternative to predatory storefront lenders.

Employers across the state, and across all sectors, have adopted TrueConnect. With no cost or risk to the employer and no credit check for the employee, these loans of up to $5,000 have helped employees address short-term emergencies and reduce financial stress—all of which supports a healthier, more productive workplace.

If your business is interested in TrueConnect, click the link below.

Get more information on TrueConnect

Utility Bill Assistance

Through a partnership with PNM and HELP New Mexico Inc., eligible New Mexico customers facing past-due energy bills can apply for customer energy assistance through the PNM COVID Customer Relief Fund.

Learn more and apply through the link below. The deadline to apply is December 31st.

Apply Here

New Mexico Mortgage Finance Authority's (MFA) COVID-19 Housing Cost Assistance Program helps pay the housing costs of income-eligible New Mexico households and residents of tribal lands who are experiencing financial hardship due to the COVID-19 health crisis.

Details of all qualifying criteria and complete income limits can be found on MFA’s website: housingnm.org. Applicants may call (505) 308-4206 or toll free at (866) 488-0498 for more information.

Copyright © 2020, Prosperity Works. All rights reserved.

Our mailing address is:
909 Copper Ave NW, Albuquerque, NM 87102

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