Seeking to help bridge the racial wealth gap, the Austin United Alliance will sponsor a wealth-building webinar – “A Blueprint for Accessing the Capital We’ve Been Waiting For” – 10 a.m. June 16.
Wednesday’s event will focus on the racial wealth gap impacting Austin and other West Side neighborhoods. Panelists will address questions such as: How does someone start today to build generational wealth? How should someone get started as an investor? What role does credit management play in wealth building?
The racial wealth gap means the net worth of a typical white family is nearly eight times greater than that of a Black family, studies have shown. Gaps in wealth between Black and white households reveal the effects of accumulated inequality and discrimination, as well as limited access to economic opportunities that have existed throughout America’s history.
Webinar participants will include state Rep. Camille Lilly; Rev. Ira Acree, pastor of Greater St. John Bible Church and founding member of The Leaders Network; Athena Williams, executive director of the Oak Park Regional Housing Center; and Earl Chase, executive director of Heartland Housing. CBS2 Investigative Reporter Dorothy Tucker will moderate the event.
Also participating will be representatives of the Chicago Community Loan Fund, Omega Psi Phi Federal Credit Union, the South Side Community Federal Credit Union and the
Faith-Based Credit Union Alliance.
The event also is backed by those working to create a community-led West Side credit union in Austin, an effort led by The Leaders Network, a collaborative of faith and community leaders.
The main organizer of Wednesday’s webinar is the Austin United Alliance, which consists of the Oak Park Regional Housing Center and Heartland Housing. It was chosen earlier this year by city officials to redevelop the former Laramie State Bank building at 5200 W. Chicago Ave.
Construction on the project, which is expected to generate up to 150 construction jobs and more than 20 full-time positions, will begin in 2022.
As part of the INVEST South/West initiative, the project’s ultimate goals are to build wealth and strengthen the business network as well as the Austin community as a whole.
To register for Wednesday’s event, click here.