Seeking to help close the racial wealth gap, the Austin United Alliance will sponsor a webinar on wealth creation – “A Plan to Access the Capital We Expected” – at 10 am on June 16.

Wednesday’s event will focus on the racial wealth gap affecting Austin and other West Side neighborhoods. Panelists will address questions such as: How does someone start building generational wealth today? How to start as an investor? What role does credit management play in building wealth?

The racial wealth gap means that the net worth of a typical white family is nearly eight times that of a black family, according to studies. The wealth gaps between black and white households reveal the effects of accumulated inequality and discrimination, as well as the limited access to economic opportunities that have existed throughout America’s history.

Webinar attendees will understand Rep. state Camille Lilly; Rev. Ira Acree, pastor of Biblical Church of Grand Saint-Jean and founding member of The network of leaders; Athena Williams, Executive Director of the Oak Park Regional Housing Center; and Earl Chase, Executive Director of Heartland Housing. CBS2 investigative reporter Dorothy Tucker will animate the event.

Representatives of the Chicago Community Loan Fund, Federal Credit Union Omega Psi Phi, the South Side Federal Community Credit Union and the
Faith-based Alliance of Credit Unions.

The event is also supported by those working to create a West Side Community Credit Union in Austin, an effort led by The Leaders Network, a collaboration of religious and community leaders.

The main host for Wednesday’s webinar is the Austin United Alliance, which includes the Oak Park Regional Housing Center and Heartland Housing. He was chosen earlier this year by city officials to redevelop the old Laramie State Bank building at 5200 W. Chicago Ave.

Construction on the project, which is expected to generate up to 150 construction jobs and more than 20 full-time positions, will begin in 2022.

As a member of INVEST South / West Initiative, the ultimate goals of the project are to create wealth and strengthen the business network as well as the Austin community as a whole.

To register for Wednesday’s event, Click here.


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