United Way of Whatcom County Hosts Free Webinar Series on the History of Discrimination in Finance

Submitted by United Way of Whatcom County

Beginning Wednesday, February 8 at 2 pm, United Way of Whatcom County will partner with Next Gen Personal Finance to present a 4-part educational webinar series focusing on the history of discrimination in finance. The series will explore the topics of racism in finance, the impact of inflation on Communities of Color, women and finance, and how to recognize signs of financial abuse. The sessions will take place every other Wednesday from 2-3 PST until March 22nd.

This eye-opening series will be led by Tori Mansfield, Director of Financial Equity and Empowerment at Next Gen Personal Finance. This is United Way’s second partnership with Next Gen Personal Finance. “We are thrilled to once again partner with Next Gen Personal Finance and Tori to present this important information to our community,” said Kristi Birkeland, President/CEO of United Way of Whatcom County. “Her sessions are informative, interactive and very humbling. The more we learn about our past, the better able we are to build a better future.”

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Registration for this event is free and open to all. One registration provides access to all four sessions.

To register, visit https://www.unitedwaywhatcom.org/events/

Financial Inequalities in Whatcom County

Whatcom County is not immune to the issues discussed in this series. According to the most recent data from United for ALICE, black, Hispanic, and Native/Pacific Islander families in Whatcom County were significantly more likely than white families to struggle to make ends meet. The data also showed that 55% of Black families in Whatcom County could not afford the cost of living in our community, compared to 33% of white families. These localized data follow national trends that highlight the disparities in wealth between Black and white households. According to a study by the Federal Reserve, the national median net worth of Black households was $24,100, compared to $188,200 for white households.

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Local United for ALICE data also showed that 76% of single female-headed households in Whatcom County struggle to get the basics (compared to 18% of married households and 49% of single male households). A recent study by the Bureau of Labor Statistics found that the average earnings for women is 83.1% of the average earnings for men nationwide.

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This seminar series on Financial Discrimination is timely, as conversations about diversity, equity and inclusion (DEI) spread in mainstream media and workplaces across the country. Discriminatory lending practices, sexist banking policies, and other such issues shaped the financial landscape we experience today. United Way of Whatcom County hopes that this educational series will be a foundation for individuals, families, workplaces and our community to create a more equitable future for all.

For more information about the webinar series, visit https://www.unitedwaywhatcom.org/blog/united-we-grow-discrimination-in-finance.html

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