12/24/2020
Community Capacity Development (CCD) announced the launch of the 2021 Intergenerational Wealth Program,
a part of our Human Justice approach to community development today. This financial health initiative is focused on addressing the racial wealth gap. CCD is intentionally supporting and uplifting black owned banks and credit unions in the city of New York and across the country .
K Bain, the Executive Director of Community Capacity Development (CCD), announced that the organization is proud to be contributing the necessary funding required for the activation of over 25 bank accounts. The Intergenerational wealth program has been developed in response to the articulated needs of youth in Queensbridge Housing currently participating in CCD’s Youth Builder Program.
The Intergenerational Wealth Program aims to improve the depletion of wealth and lack of access to capital that black and brown communities face. A 2019 FDIC survey found Black households were five and a half times more likely to be “unbanked”, or live without a bank account, than their white counterparts. Additionally, Queensbridge Houses, the largest housing development in the country, has a median household income of $15,843, well below the poverty line (New York Times, 2018)
Community Capacity Development’s “Youth Builder” program employs 20 - 25 young people ages 14-24. The program is geared towards developing its participants critical thinking skills, training them in conflict resolution, teaching them financial literacy, exposing them to arts and culture, and health and wellness information. CCD is driven by the objective to create consistent streams of investment in communal prosperity and affluence, by influencing mindsets for financial abundance.