Present: Jen Arent (Chair), Richard Baum, Rosa Reynoza, Cynthia Scarborough, Alain Serkissian, Deanna Shaat
Influencers: Jessica Hughes (Burbank Housing), Shelley Clark (Legal Aid), Alex Kennet (Council on Aging), Sharon King (Silvercrest)
Guest Speakers: Beth Rothmuller (North Bay Credit Union - NBCU), Jana Adams (NBCU), Rebecca Nystrom (Community First Credit Union – CFCU), Dave Williams (CFCU), Wrynn Valentine (Redwood Credit Union – RCU), Penny Cleary (RCU)
Staff: Katie Parrish
Minutes: Bron Anderson
- Welcome & Introductions - (Arent) – meeting called to order at 12:02 PM, all welcomed and introductions made.
- Approval of February 4 2020 Meeting Minutes – (Arent)Motion to approve the February 4, 2020 Housing Committee Meeting Minutes.
PACE Program Update – (Parrish)
- (Motion) Baum/Shaat (MSC) to approve minutes as presented; motion approved unanimously. AYES – 6, NOES – 0, Abstentions - 0
Financial Planning and Literacy to Support Stably Housed Older Adults - (Guests)
- At a recent equity outreach session with Sonoma County Office of Education, PACE program was discussed. AAA Director Dunaway was at the table.
- There are discussions already in progress about available property through St. Joseph’s Hospital to implement PACE
- The County will engage in development when it is appropriate to become involved.
Public Comments - (All)Adjourn - Call by the Chair to adjourn at 1:30PM
- This topic springs from the Area Plan needs assessment that indicated housing as a priority in Sonoma County. The role of the AAA in addressing this need is the ability to bring people together and facilitate necessary connections.
- Beth Rothmuller and Jana Adams from North Bay Credit Union
- It can be difficult to adjust to increases in housing expenses in Sonoma County. NBCU has some options for shorter term loans and loans for manufactured homes that can assist in bridging some of the monetary gaps.
- Rebecca Nystrom and Dave Williams from Community First Credit Union
- Some benefits of using credit unions are that they are not-for-profit and are connected with the needs of the communities in which they are located. CFCU uses a financial literacy tool called Bonzai that allows members to be coached toward financial success at any age or any stage.
- Wrynn Valentine and Penny Cleary from Redwood Credit Union
- Credit Unions can help promote financial literacy and prevent older adults from being preyed upon financially. They send out their online scam brochure with Meals on Wheels deliveries. RCU looks to make a relationship with its members and the community.
- Use a product called Ever-Fi to provide a personalized financial literacy program
- Patelco Credit Union – Presented through email to Parrish
- They are launching a financial counselor at each branch for one-on-one conversations with members. Attempted to have a budgeting workshop, but found that people felt they didn’t have enough money to bother budgeting. So, they shifted to a workshop on emotional connection with money in order to build up to budgeting
- Sharon King from Silvercrest and Salvation Army
- Silvercrest is a 186 unit property for low income older adults
- Salvation Army assists with Season of Sharing, which provides funds for people who want to get into housing, like helping with Security Deposit.
- Alex Kennet from Council on Aging
- The highest priority is to keep people in housing so they don’t get to the point of emergency. People could get incentives to look deeply at their finances and reassess how the future looks
- Housing Stock is low
- People seem to lack the confidence or can feel shame about around seeking out financial support
- How do we encourage people to feel good about learning about financial issues?