Julie Birkenmaier, Mathieu Despard, Terri Friedline, and Jin Huang
Financial inclusion, the goal of financial access, broadly refers to the ability of all people in a society to access and be empowered to use safe, affordable, relevant, and convenient financial products and services for achieving their goals. Financial inclusion promotes household and societal financial well-being and requires access to an array of financial products and services such as savings accounts, credit cards, mortgage and small business loans, and small-dollar consumer loans. Despite the advantages, too many individuals and households lack financial inclusion and access by being unbanked, underbanked, and/or they are forced to use alternative financial services. Achieving financial inclusion will require participation from many different types of formal financial institutional actors, such as banks, credit unions, community development financial institutions, and national credit bureaus. Social work assists to build financial inclusion and access through practice innovations, research, and policy advocacy.
Michael Sherraden, Li-Chen Cheng, Fred M. Ssewamala, Youngmi Kim, Vernon Loke, Li Zou, Gina Chowa, David Ansong, Lissa Johnson, YungSoo Lee, Michal Grinstein-Weiss, Margaret M. Clancy, Jin Huang, Sondra G. Beverly, Yunju Nam, and Chang-Keun Han
Child Development Accounts (CDAs) are subsidized savings or investment accounts to help people accumulate assets for developmental purposes and life course needs. They are envisioned as universal (everyone participates), progressive (greater subsidies for the poor), and potentially lifelong national policy. These features distinguish CDAs from most existing asset-building policies and programs around the world, which are typically regressive, giving greater benefits to the well-off. With policy innovation in recent years, several countries now have national CDA policies, and four states in the United States have statewide programs. Some of these are designed to be universal and progressive. Evidence indicates that true universality can be achieved, but only with automatic account opening and automatic deposits. In the absence of automatic features, advantaged families participate and benefit more. Today, momentum for universal and automatic features is gradually gaining traction and accelerating. At this stage in the emergence of inclusive asset-based policy, this is the most important development.
The International Council on Social Welfare (ICSW) is a nongovernmental organization (NGO) focused on advocacy, knowledge-building, and technical assistance projects in various areas of social development carried out at the country level and internationally. Created in 1928 in Paris to address the complexities and challenges of social work, the ICSW has evolved through the years to embrace the major issues of social development, becoming a global organization committed to improving human well-being. Establishing common ground on issues of international significance and acting with partners through its nine regional networks, ICSW represents national and local organizations in more than 70 countries throughout the world. Membership also includes major international organizations. By virtue of its constitution, it operates as a democratic and accountable organization.
Social work often refers to economic justice but rarely considers what economic justice truly entails. This article specifies a number of areas that comprise economic justice issues and agendas. It also provides examples of how these issues are being advocated and many of the organizations that are involved in these campaigns. In addition, the text discusses the rationale for social work and social workers to be knowledgeable of and involved with economic justice initiatives. Six realms of economic justice are discussed, including inequality, workplace rights, living wage levels and minimum wages, immigrant rights in the workplace, community-labor partnerships, and social programs that support working families and individuals.
Margaret Sherrard Sherraden
Financial capability combines the ability to act with the opportunity to act in ways that contribute to financial functioning. As large numbers of people struggle to manage their household finances, financial capability has become increasingly important. Improving financial capability requires financial education and guidance as well as improved access across the life span to appropriate and beneficial financial products and services. Examples of policies that promote financial capability across the life span include Children’s Development Accounts and myRAs, long-term investment vehicles that build financial capability. Social work can play a key role in building financial capability through interventions in households, communities, and policies. However, these contributions require practice and research to develop and test interventions. They also require financial education for social workers.
This article examines the role of social workers in rural and remote areas of Australia. The uniqueness of Australia’s landscape, its vast distances, and sparse population base, create unique issues relating to service delivery in general and social work in particular. High levels of poverty, poorer health, lower socio-economic status, and an aging population base typify Australia’s remote areas. Despite these factors, inland regions of the country are subject to economic rationalist policies that make service access problematic. It is in these regions that rural and remote social workers practice. The article outlines the personal, practical, and professional challenges facing social workers and notes the unique opportunities available to workers who choose to live and work in these regions.
Private money clubs or mutual financial aid and saving associations (MFASAs) are commonly identified as one of the contributing factors to high small business ownership rates among Chinese, Japanese, and Korean immigrants in the United States. This article discusses MFASAs among the immigrant groups in the United States. Included are MFASAs’ historical roots, trends, operational procedures, and their role in building financial assets among these groups. As MFASAs have roles other than that of being private financial vehicles for immigrants, other functions are also discussed. The potential for MFASAs to be considered a development model beyond the Asian American community is presented.
Welfare as a right has long been an objective of advocates for social and economic justice. During the 1960s, the right to welfare was championed by legal scholars as well as the activists who created the National Welfare Rights Organization (NWRO). With the demise of NWRO in 1975 and the subsequent ascendance of conservatism in social policy, notably the 1996 welfare reform act, momentum for welfare as a right flagged. Since the 1990s, a capability approach to well-being has been proposed, and various instruments have been constructed to evaluate the welfare of populations across nations as well as subnational jurisdictions. Variables such as income, health, education, employment, and satisfaction measures of well-being have effectively replaced the idea of welfare as a right. The transition from welfare as a right to well-being varying across populations provides more information social workers can use to advocate for marginalized populations.
This article discusses the African American social welfare system that began to develop during the early 20th century. This social welfare system, designed by African Americans to serve African Americans, addressed needs that were not being met by any other formal social services while the nascent social work profession was emerging. The myriad programs included settlement houses, boys and girls programs, training schools, and day nurseries. The women’s club movement played a critical role in the development of this social welfare system and provided much of the impetus for change and inclusion. Through formal organizations, including the National Urban League (NUL) and the Universal Negro Improvement Association (UNIA), and an array of clubs and social groups, social services were extended to urban and rural communities throughout the United States.
Economic insecurity and family Well-Being is a growing concern for American society. With the dramatic changes that occurred following the “great recession” of 2008, and the lingering effects since, families have experienced stressors and multiple strains in their adjustment to the impact of the changing fiscal climate and their financial demands. To understand the experience of economic insecurity, an understanding of economic security is helpful in providing a context for how these two dynamics emanate and impact families and their Well-Being. This article provides a glimpse of how the fragility of the economy and the mental tax experienced by the family are inextricably interdependent and connected.