opportunities to save, invest and protect family wealth; assist homeowners and renters
at risk of foreclosure or eviction; and combat predatory lending. We made 36 grants
totaling $1.7 million in awards under this strategy.
5,700 people received financial education or coaching to build financial stability for
themselves and their families last year.
influence legislation. We made important strides in our anti-payday-lending work, as
our nonprofit partners pushed successfully for the passage of new ordinances to limit
payday lending in Sunnyvale and Gilroy, reducing the chances that low-income families
will get caught in harmful cycles of debt. We've also had success in East Palo Alto,
Los Altos, Menlo Park, Pacifica, San Jose, the County of San Mateo and the County of
Santa Clara, all of which have such ordinances.
sponsored by Senator Jerry Hill (D-San Mateo). The legislation provides for certain lenders
to make small dollar loans at a set maximum interest rate, providing alternatives to payday
loans, which often carry annual interest rates of 400 percent or more.
siliconvalleycf.org/publications.
strategy. The institute targets "hardest to reach" kids primarily low-income middle
school students who are performing one to four years below grade level in mathematics.
The institute offers these students a rigorous, 28-day summer program on a college
campus with seven hours of math instruction each day. Consistently, 70 percent
improve at least one full grade level, and students say the program gives them renewed
feelings of confidence and self-worth.
$1.7 million in
awards under this
strategy in 2013
received financial
education or
coaching