Financial Capability: Combining Assets and Abilities
The Center for Social Development is actively engaged in building a body of evidence in financial capability, defined as both the knowledge to make optimal financial decisions and access to appropriate and beneficial financial services. Our current initiative—the Financial Capability & Asset Building​ (FCAB) project—focuses on financial capability across the life-cycle and inclusion of all individuals. FCAB works in collaboration with the Kathryn M. Buder Center for American Indian Studies​.
 
The aim of FCAB is to address the wide gap in professional training of practitioners who serve low- and moderate-income households. In this way, CSD hopes indirectly to increase financial capability among households which today receive little or no financial guidance or counseling.
 
In order to renew professional capacity in social work and other applied professions, CSD works with many partners to develop curricula in Financial Capability & Asset Building.
 
Strategies include:
  1. Engaging with other universities, disciplines, and professions in research, innovation, and application for financial capability.
  2. Building evidence for the efficacy of developing professional capacity in financial capability.
  3. Partnering with Historically Black Colleges and Universities (HBCUs), Hispanic-serving institutions and Tribal Colleges and Universities (TCUs) to ensure inclusion of culturally relevant and culturally competent financial capability topics.
  4. Completing evidence-based texts that will serve as resources for training social workers and other human services professionals.