Women's Wire ~ Issue 7, summer 2009

In this issue of Women's Wire...

The Women's Foundation Comes of Age
2010 Grants Awarded
Introducing Jen Euell
New Advisory Committee Members
The End of Predatory Lending
Did You Know?
Donors, Honorariums and Memorials

The Women's Foundation Comes of Age

As we celebrate 10 years of good granting to secure economic self-sufficiency for Montana women and a brighter future for girls, we’re delighted to welcome Jen Euell as our new Program Director. Jen joined WFM after a wonderful career at GUTS (Girls Using Their Strengths).   You’ve read about GUTS in this newsletter as it has received several grants from the Women’s Foundation.  We have great confidence that Jen is passionate about women and girls’ issues and will run a strong program. 

During our work last year to pass I-164 (the ballot initiative that limits interest rates on payday and car title loan interest rates to 36%) it became even more clear to us that increasing financial literacy among Montanans, and especially Montana women and girls, is critical.  We are fortunate if we know how to manage our money; we don’t learn these skills in school and too often parents aren’t the best teachers.  So, the board of the Women’s Foundation of Montana decided to focus its work on increasing financial literacy among women and girls.  

Over the next few months, we’ll be working to redefine our program work to fit our new focus. We think it can range from helping women rehabilitate their credit and learning money management skills to helping women with assets understand how to better manage and invest them. 

We have two examples of the places this work could take us.  A recent grant from the Doll Family Foundation will allow us to help women in dire financial circumstances in Bozeman with credit counseling and savings.  Our grant will match contributions from the Bozeman credit unions that will build savings accounts for women who successfully complete training and over several months improve their credit scores.  We’re delighted that this grant will accomplish important work, but also that we can work with two proven partners, Rural Dynamics and Montana Credit Unions for Community Development. 

At the other end of the spectrum we’ve learned about Annie’s Project, a training program to help women who have inherited or purchased a farm or ranch learn financial skills. This program provides training in accounting, hedging, futures, and estate planning.  

Grants Awarded
WFM awarded $30,000 to agencies working to increase economic self sufficiency for girls and women in 2010

homeWORD
$5,000 to support the Financial Fitness Program, a financial literacy education course for low income women and families $5,000

Montana Credit Unions for Community Development
$10,000 to provide continued operating assistance to support current financial education programs, such as Montana Students Save, Rural Montana Saves, Youth Experiencing Security and Success, and payday loan alternatives, individual development accounts, and volunteer income tax assistance.

Montana Women Vote
$10,000 to support voter education and mobilization, leadership development and policy advocacy efforts.

Rural Dynamics, Inc. / Consumer Credit Counseling Service
$5,000 for operating assistance to support debt management and financial literacy programs for low-income families.

Introducing Jen euell

Jen is a native Montanan and a long-time advocate for women and girls in Montana. She is the co-founder of the GUTS! (Girls Using Their Strengths) girls' leadership project and the former Program Director of the YWCA Missoula.  In this position, Jen grew the program from one that served 10 girls per year to a program that now serves more than 250 girls per year.  Her work has empowered thousands of girls and hundreds of women over the years. Jen is passionate about the Women's Foundation of Montana's mission to build economic self-sufficiency for Montana women and a brighter future for Montana girls.  When not working towards this passion, Jen enjoys spending time with her husband John, 3 year old daughter Amelia and their two dogs, hiking in the woods near their home in Missoula.

"I'm just so excited to be able to take my skills and passion to a statewide level.  The Women's Foundation of Montana is the only statewide funder of change for women and girls in Montana, and I'm thrilled to be in a position to help secure a brighter future not only for the women and girls of Missoula, but for those across the state as well."

"For the first time in our ten year history, the Women's Foundation of Montana has hired a full-time Program Director," said Sheila Rice, Chair of the Women's Foundation of Montana Advisory Committee. "We believe that we have built a strong foundation and have proven our commitment to making change happen for the women and girls of Montana.  We now have the connections and resources to become a powerful force at a statewide level, and we are excited to have Jen on board to lead the way."

Jen plans to begin by contacting as many supporters of the Women's Foundation as possible to hear the concerns and ideas of women and girls throughout the state and to rally support. "From personal experience I know that Montana breeds particularly strong and spunky women in their own right.  I can't wait to see what we can do when we work together to make change happen!" 

Did you know

Since the recession officially ended, women have been losing jobs even as men’s employment has been growing. From July 2009 through May 2011, men gained 959,000 jobs while women lost 109,000. As a result, women’s unemployment is currently higher than it was at the start of the recovery.

Women report experiencing nearly twice as much “high or overwhelming” financial stress as men. 28 percent of women reported experiencing “high or overwhelming financial stress" during the first quarter of 2011, while only 17 percent of men reported having that same level of stress.

There are about 10.1 million privately-held, 50% or more women-owned firms in the United States, accounting for two in five of all businesses in the country. These firms generate $1.9 trillion in annual sales and employ 13 million people nationwide.

NEw Faces

This year the Women's Foundation welcomed three new advisory committee members.

Marie Nopper is the Director of Research at the Montana State University Foundation in Bozeman.  She has over twenty years of professional experience in fund raising and development in association with MSU.  Her involvement and activity in nonprofits and philanthropy extends to the Montana Community Foundation, the Gallatin County Community Fund and local nonprofit organizations.  She holds both a BS and a Masters degree from Montana State University and has held the nationally recognized professional credential of Certified Fund Raising Executive since 2001.  She is a third generation Montanan and a life-long resident in the Bozeman area.

Wendy Nicolai brings extensive experience in nonprofit and government work to the advisory committee. Wendy is the Special Projects Manager at the Department of Health and Human Services, serving as the department’s liaison to the Governor’s Office during the Legislative session. Before joining DPHHS, Wendy was the Executive Director for the Montana Affiliate of Susan G. Komen for the Cure. Wendy has also worked for the Helena Education Foundation and for St. Peter’s Hospital Foundation. Wendy has a long and rich history serving as a board member on various organizations throughout the state.  Currently she is a board member of Career Training Institute in Helena serving as their Chairperson the past three years.  She has been a member of the Montana Community Foundation’s Social Justice Montana Steering Committee since 1999.  Her previous volunteer positions include serving as Regional Membership Chair of the Association of Heath Care Philanthropy, as well as serving on the boards of the Yellowstone AIDS Project, COR Enterprises, Festival of Cultures, and the Billings Human Rights Task Force.

Jeanne Saarinen is Executive Director of Montana Credit Unions for Community Development, the charitable arm of the Montana Credit Union Network.  Jeanne and her team work to implement empowering programs through credit unions that improve the social and economic well-being of Montanans.  MCUCD’s current programs include matched savings accounts, free tax filing services, financial and consumer education, and combating predatory lending.  Jeanne has more than 20 years of credit union service in Montana, and has been Executive Director of MCUCD since its inception in 2003.  Under her leadership MCUCD has garnered over $1 million in grants and contributions for MCUCD and partner projects since 2003.  As a certified Credit Union Development Educator, Jeanne delivers the credit union core philosophy of “people helping people” to the underserved and those of modest means across Montana. 

The End of Predatory Lending

The campaign for I-164, a citizens’ initiative to cap the triple-digit interest rates charged by Montana payday and car title lenders was an overwhelming success.

Despite significant challenges, including two lawsuits, heavy advertising and a persistent misinformation campaign by the well-funded lending industry, the measure passed with nearly 72 percent of the vote, receiving a majority in all 56 of Montana’s counties and in every house district.

The key reasons for the success of I-164 include:

• A committed statewide coalition of influential, highly regarded and nonpartisan nonprofits, labor and faith organizations. These groups worked effectively together to fund, staff and steer the campaign to victory.

• A concerted effort to develop the strongest ballot and voter information language possible. This language clearly conveyed to voters the intent and effect of the initiative and put us ahead of the opposition.

• A “1,000 Friends” initiative of supporters like you, who publicly expressed their endorsement of I-164 and assisted in the campaign by writing letters to newspapers, appearing at campaign events and serving as media spokespeople.

• Statewide coverage of key events and forums along with local level events and guest opinions in newspapers, radio and television across the state.

• Strategic planning that ensured a strong budget for paid media and advertising.

• Preparation for the opposition. Great care was taken to ensure that signatures on petitions gathered to put the initiative were valid and that scrupulous records of the signature-gathering effort were kept.

The Women’s Foundation engaged in this work because we could see the effect of the payday lending industry on Montana women. Too many were caught in the debt trap created by the lending industry. Thanks to our coalition partners and supporters like you, the vulnerable populations targeted by the lending industry--working families, single mothers, and elderly people on fixed incomes—are no longer subject to the high rates and debt trap of payday lending. Thank you!

Cap the Rate Coalition Partners

Donors

Allegra Print & Imaging
Chambers Family Fund
Gallatin County Community Benefit Fund
Judy and Jerry Williams Family Gift Fund
Marguerite Casey Foundation
Natural Balance Health Care
Prince, Inc.
Remmer Family Foundation
Renaissance Creative
Stacey J. Anderson
Marilynn Anderson
Sandra Anderson
Martha M. Arguelles
Sidney O. Armstrong
Joan K. Bennett
Mary E. Blake
The Honorable Carlie C. Boland
Jean Bonde
Carol Bradley
Kathryn M. Bramer
Vivian M. Brooke
Lisa Bullock
Nancy Butler
Linda S. Carlson
Katie Carlson
Eileen Carney
Diane Carriere-Myrah
Teresa Cohea
Penny Copps
Mary Ann Cosgrove
Bonnie J. Cotton
Mary Craigle
Elaine Dahl
Catherine Day
Dorcie Dvarishkis
Dorothy Eck
Jo Ann Eder
Sarah Elliott
Lesa Evers
The Honorable Tom Facey
Ellen and Eric Feaver
Eve Franklin
Julie French
Rosella and Ernie Gallegos
Mary B. Gibson
Annie L. Glover
Jacalyn Grenfell-Worthington
Elizabeth Gundersen
Deborah L. Halliday
Randal D. Hanson
Katherine Haque-Hausrath
Lois Hart
Sheila Hogan
The Honorable Brian Hoven
Lucretia Humphrey
Barbara J. Hunter
Faye and Bruce James
Kay Jelinek
Gerry M. Jennings
Judy Johnson
Denise M. Juneau
The Honorable Christine Kaufmann
Janet Kelly
Deborah Kottel
Renee and John Kowalski
Alyce Kuehn
Chris Laslovich
Linda and Paul Leimbach
Sol Lovas
Pamela Mavrolas
Chantel McCormick
Judy Meadows
Janice Munsell and Randy L. Spear
Virginia and Albert Niccolucci
Stuart and Janie Nicholson
Nancy Nicholson
Kim Obbink
Deborah Oleynik
Nancy Owens
Eva C. Patten
Caroline Patterson
Jan Paustian
Jeanne L. Pugh
Linda E. Reed
Jessica Rhoades
Sheila Rice
Thomas and Maureen Richardson
Bev Ross
Maureen and Mathew Rude
Jeanne Saarinen
Rachel Schaffer
Mike Schechtman
Margaret F. Schoknecht
The Honorable Patricia S. Schroeder
Barbara Shallenberger
Robin Shropshire
Mary Minor Smith
Virginia Stacey
Jessica Stickney
Alieda M. Stone
Jacob C. Troyer
Linda L. Vaughey
Barbara Wagner
Mignon and Ron Waterman
Wendy Weissman
The Honorable Carol Williams
The Honorable Franke Wilmer
Barb Woith
Jeanne E. Wolverton
Peter Yegen

Honorariums

Anonymous in honor of Maureen Rude
Debra Duffner in honor of Marilyn Maddison
Garth Haugland in honor of Ruth Haugland
Teresa McKeon in honor of Myrtle Hould and Janice Reichelt
Maureen Rude in honor of Mickey Rosa
Elizabeth Scanlin in honor of Millicent P. Scanlin
Diana Talcott in honor of Sheila Rice
Jerry Williams in honor of Judith Williams
Jeanne E. Wolverton in honor of Linda Reed

Memorials

Sandra Anderson in memory of Teresa L. Anderson
Margery D. Eliason in memory of Sally Marion
Angela Goodhope in memory of Grandma Frances
Brynn Holt in memory of Vivian M. Clark
Virginia M. Piatt in memory of Blanche Murray
Joanne Hall Salina in memory of Ann Rice
The Honorable Franke Wilmer in memory of Elise Walden