Community Economic Development
The NAACP promotes racial equity in community economic development and strengthening the economic fabric of communities of color through supporting the creation and growth of individual wealth building, primarily through matched savings accounts, and community asset building, and small businesses.
Many African Americans families, like most Americans, struggle to obtain wealth that will benefit their immediate family and community. Assets are key drivers of community revitalization and personal financial freedom. The community and economic development program establishes asset development infrastructure in communities of color leveraging the NAACP network and resources.
African American Asset Building Initiative analyzes the current asset and wealth creation landscape and infrastructure within the African American community with the goal of establishing an African American Asset Building coalition with corresponding resources and services.
The African American Asset Building Initiative will lead to greater engagement of African Americans in the existing asset development system in their local community. It will help build a sustainable network of African American service providers to aid in improving the existing system for African Americans, as well as enhance learning on how to improve financial capability for African Americans.