For many individuals from underrepresented communities, inequitable opportunities to obtain financial literacy perpetuate inequitable financial outcomes. As April is national financial literacy month, we want to challenge you to consider the topic of Financial Literacy Equity in this month’s newsletter.
Ensuring that all community members have the ability to make informed financial decisions is an important piece to supporting equitable, diverse, and economically robust communities. It is often financial stability that underlies images of success and to ensure that all community members have equal opportunity to achieve that success, it is important to consider where and how financial literacy can be obtained in our communities.
The Minnesota Department of Health defines financial literacy as, “possessing a level of basic knowledge or competence about
financial concepts such as the ability to balance a checkbook, manage a credit card, prepare a budget, take out a loan, and buy insurance.”
Efforts are being undertaken by individuals and groups in northeast Minnesota to promote financial literacy and provide every individual within our communities with equitable opportunities to access financial success.
A recognition of the past and continuing inequities in relation to financial literacy can help local governments, community members, and organizations advocate for financial literacy for all community members in the region.
Welcoming efforts around financial literacy might consist of:
- Identifying and addressing existing barriers related to financial education
- Encouraging policies and programs that promote financial inclusion and access to affordable financial services
- Supporting community discussion and group learning around the value of financial literacy
Considering financial literacy equity is essential to understanding a more complete picture of equity across the Northland. Visit the Resources to Explore section below to learn more about current initiatives and stories around financial literacy equity in the Northland.
“Equal rights, fair play, justice, are all like the air: we all have it, or none of us has it. That is the truth of it.” –Maya Angelou
Continued Learning
The goal of the Welcoming Community program is to provide continued opportunities for learning and connection related to topics relevant to diversity, equity, and inclusion in our region. In our monthly emails, we highlight a specific equity topic and provide resources related to the monthly theme.
The theme for the month of April is Financial Literacy Equity. When exploring the learnings in the Resources to Explore section, we ask that you consider the following question:
“In terms of financial literacy equity in northeast Minnesota, where have we come from, where are we now, and what steps do we need to take to reach an equitable future?”
Resources to Explore
- MPR News North Star Journey : Financial Education in Minnesota Schools Could Help Reduce Economic Disparities
- Harvard Business Review: Financial Equity and Inclusion Should Be Part of Your DEI Programs
- The Nation’s Report Card: The Nation’s Report Card on Financial Literacy
- KARE 11: Minnesota Woman’s Company Focuses on Financial Literacy for Women
- Liberty Bay Credit Union: Why Financial Literacy Matters for Equity & Inclusion
- NAACP: Financial Literacy Equity Gap Training in School
- MN Department of Health: PREP – Financial Literacy
- Members Cooperative Credit Union: Take Control of Your Money
- Literacy Minnesota: Money Smart
- University of Minnesota: Minnesota Council on Economic Education
- Twin Cities Pioneer Press: Your Money: Why Financial Literacy Matters
- econedlink.org: Financial Fitness for Life-Parent Guide
- National Endowment for Financial Education (NEFE): Research Finds Financial Education Interventions has Positive Effects on Student Behavior
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Photo Credit: Jeremy Gardner, Ojibwemowining Digital Arts
Save the Date! Third Annual Equity Summit
Belonging in Northeast Minnesota
Northspan’s Welcoming Community program is excited to announce the date for our third annual Equity Summit:
Belonging in Northeast Minnesota
Wednesday, October 4th, 2023
Iron Trail Motors Event Center
Virginia, Minnesota
This will be a day-long opportunity for community leaders, businesses, educators, creatives, workforce & economic development, government, health care, philanthropy, and others to engage around themes related to diversity, equity, and inclusion and forge a more inclusive future in northeast Minnesota.
More information on the agenda, presenters, and registration will be forthcoming! You can learn more about this initiative’s vision and purpose and see a recap of the 2022 summit by watching this clip: Annual Equity Summit
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Welcoming: In the News!
Duluth News Tribune: Duluth Artist Jonathan Thunder Stars in PBS Documentary About His Life and Work
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Photo Credit: Jeremy Gardner, Ojibwemowining Digital Arts
Welcoming Events Across the Northland
Many initiatives are ongoing to support Welcoming across northeast Minnesota. Listed below are some in-person and digital opportunities to explore and participate in!
Do you know about a connection opportunity we could highlight in an upcoming newsletter? Submit events to alewis@northspan.org by May 10th, 2023.
The Itasca Lyceum: Why Democracy?
April 24th, 2023
Rapids Brewing Company, Grand Rapids, MN
Learn more here
See No Stranger: A Manifesto of Revolutionary Love
April 26th, 2023 from 7:30-9:00PM
Mitchell Auditorium, The College of St. Scholastica
Learn more here
University of Minnesota Extension: 4-H Incredible Exchange
Application Deadline, April 30th, 2023
Learn more here
Resident Connection: Welcome Event for New Residents of Hibbing & Chisholm
May 4th, 2023 from 5:00-7:00PM
Hibbing Memorial Building, 400 East 23rd Street, Hibbing, MN
Learn more here
Newcomer’s Dinner: Welcome Event for Residents of Biwabik, Aurora, Hoyt Lakes & Town of White
May 4th, 2023 at 5:30 PM
Biwabik Pavilion, 100 5th Avenue North, Biwabik
Learn more here
American Connection Corps/AmeriCorps Fellowship: Accepting Applications
Application Deadline, May 10th, 2023
Learn more here
The Duluth Lyceum: What Do We Owe Our Local Environment?
May 25th, 2023
Duluth Folk School/Dovetail Cafe, Duluth, MN
Learn more here
Leading with our Hearts: Ojibwe, Sami, & Nordic Designs from Nature
Nordic Center, Duluth, MN
Learn more here
Love Your Block Mini-Grant, Accepting Applications
(Lincoln Park & Hillside Neighborhood)
Application Deadline: June 1st, 2023
Learn more here
AICHO: Birchbark & Cattails
An Homage to Land That Creates Art
May 8th – June 30th, 2023
212 W 2nd Street, Duluth, MN
Learn more here
Ongoing Events
Stepping On Up: Safe Bay Opens April 17, Volunteers Needed
Learn more here
Boundary Waters Connect: Hello Neighbor
Learn more here
Cultural Healing Program: Weekly Beading Classes
Learn more here
Fond du Lac Band of Lake Superior Chippewa
Ke Go Naa! Language Lessons
Learn more here
Arrowhead Area Agency on Aging
Classes, Workshops, Trainings
Learn more here
Entrepreneur Fund: Stride
Learn more here
Members Cooperative Credit Union
Financial Education Webinars
Learn more here
Banzai Financial Wellness Library
Fond du Lac Band of Lake Superior Chippewa
2023 Gitigaan Classes
Tuesdays from 5:30PM-6:30PM
Learn more here
Minnesota Women’s Press Changemakers Alliance
Learn more here
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Invite a Friend
If you know others in your community who are interested in participating with Welcoming Community programming, please share this post so they can learn more & Click Here to join our email list.
Contact Northspan’s Welcoming Community Program Coordinator Amber Lewis at alewis@northspan.org with any questions.