Immigrations Grant
Mission
Asset Fund (MAF) Organization
https://www.missionassetfund.org/programs/
The
Mission Asset Foundation (MAT) was founded in 2007, the year that the United
States was in a period of “the Great Recession” and many American citizens
struggled financially. The Levi Strauss Foundation, in collaboration with
community leaders of San Francisco (where the company is located), funded MAT
with a million-dollar investment. Through data collected by survey researchers
seeking information about the livelihoods of low-income individuals, MAT
“learned that 44% of all households in the mission districts”, areas requiring
attention and support in order to elevate their community, “had no credit
scores”.[1] I argue that MAT is an
important organization that substantially aids immigrant families and
low-income individuals who have an increased difficulty establishing credit
that is needed in order to apply for home stability, purchasing quality
auto-care for transportation, employment, loans, and overall to live
comfortably.[2]
In addition, MAT’s Immigrant Families Grant is impactful for families seeking a
better life in a country based on the premise of freedom, liberty, and
independence. MAT provides a variety of programs set to assist and elevate
individuals on how to manage their assets, build and increase their credit
scores, and directing individuals to the right path that invests in their
future. The “Lending Circle”, created based on communitive assistance, groups
six to twelve individuals that contribute a percentage of funds that is
combined together and interchangeably distributed to the individuals within
group. MAT’s programs have a 0% interest rate which alleviates the stress of
seeking financial support. For example, the Immigration Program has no interest
rate to fund the USCIS’s marked up prices for citizenship ($725), DACA ($495), and
petition for relative ($535); prices that are difficult to scrounger up on top
of living expenses and welfare care (considering that in 2007, when the company
was established and the U.S was in the Great Recession, the minimum wage was
$5.85).[i] As mentioned prior, MAT
also provides financial education to inform their applicants of how to
continuously live as financially conscious citizens going forward.
In summary, I argue that the Immigrant Families Grant
should be considered because it provides a contemporary solution for financial
assistance that is available for low-income individuals and immigrant families
that are deprived from prospering in their environment. MAT states, “our research
shines a light on people’s financial journeys and strategies. We use these
insights to push for legislation and systematic reform that moves us toward a
more equitable financial mainstream.”[ii] The Mission Assets Foundation
recognizes the value in human life and the importance of supporting everyone in
a community. Individuals are capable of extraordinary things; providing the
proper resources empowers individuals and increases the opportunity for
innovative/ creative individuals to become active and progressive members in
our society. MAT also provides programs supporting local business owners by
offering a zero interest $2500 microloan, offers business coaching that
strategizes plans, and offers business advice. Some counter arguments opposing
the financial assistance for low-income individuals/ immigrant families argue
that it enables individuals to remain lazy and that immigrants steal potential
jobs from American citizens. However, it is important to consider the
historical context of the United States when addressing this counter argument. It
is difficult justifying the argument of immigrants coming to the United States
to steal land and jobs when the United States is stolen land from Indigenous
people, colonized by white settlers. Furthermore, while taking into
consideration the argument that assisting individuals enables poor behavior and
loafing, I recommend to self-reflect and ask, “would you personally prefer a
life of hardship?”
[i] History of
Federal Minimum Wage Rates Under the Fair Labor Standards Act, 1938 - 2009 |
U.S. Department of Labor (dol.gov)
[ii] Insights - Mission Asset Fund
References
History
of federal minimum wage rates under the Fair Labor Standards Act, 1938 - 2009.
United States Department of Labor. (n.d.). Retrieved January 1, 2022, from
https://www.dol.gov/agencies/whd/minimum-wage/history/chart
Irby, L. T.
(2021, October 31). Reasons why having good credit is important for modern
living. The Balance. Retrieved January 1, 2022, from
https://www.thebalance.com/reasons-why-good-credit-matters-960178#:~:text=5%20Reasons%20For%20Keeping%20A%20High%20Credit%20Rating,%28FAQs%29%20What%20is%20a%20good%20credit%20score%3F%20
MAF.
Mission Asset Fund. (2021, October 20). Retrieved December 31, 2021, from
https://www.missionassetfund.org/programs/
Letter
of Intent
To whom it may concern,
I am writing to formally ask
for your consideration and financial support for the Mission Assets Foundation
(MAT), a nonprofit organization set out to raise the general welfare for
low-income communities by providing zero-interest loans, building credit, and
offering educational financial programs. Through survey research conducted by
Yale University and San Francisco State University academics seeking the
success rate of MAT, it is reported that 90% of clients without credit score
establish one for the first time and typically is increased by 168 points (Impact - Mission Asset Fund,
2021). By
supporting MAT, you are contributing to impacting over nine thousand
individuals that are capable of extraordinary things; providing the proper
resources empowers individuals and increases the opportunity for innovative/
creative individuals to become active and progressive members in our society.
MAT has implemented the “Immigrant Families Grant” with
the initiative to fund the USCIS’s marked up prices for citizenship ($725),
DACA ($495), and petition for relative ($535); prices that are difficult to
scrounger up on top of living expenses and welfare care. The Immigrant Families
Grant should be considered because it provides financial assistance for
low-income individuals and immigrant families that are deprived from prospering
in their environment. MAT states, “our research shines a light on people’s
financial journeys and strategies. We use these insights to push for legislation
and systematic reform that moves us toward a more equitable financial
mainstream.”[ii]
MAT recognizes the value in human life and the importance of supporting
everyone in a community. Participating in MAT’s movement not only benefits the
livelihoods of individuals, but also suggests that your attitudes and beliefs
aligns to the value of human life as well.
Thank you for your time
and consideration.
Danna Shackelford,
University of Oklahoma
https://www.missionassetfund.org/programs/
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