Economic Development
The Economic Development Committee is charged with the responsibility of educating, advocating, providing resources and services as well as empowering members, families, friends, and people in the community on various aspects of finances, financial literacy, entrepreneurship, home ownership, and home maintenance. The committee's major goals are to implement the initiatives established during the 2010 National Convention. The implementation process will include collaboration with other committees within the chapter and also with outside organizations that have similar goals and initiatives. The committee plans to create and implement investment and savings vehicles for GEAAC’s membership. Lastly, the committee will continue its chapter’s partnership with Lindop Elementary School in Broadview, Illinois by implementing the State of Illinois' Bank at School Program.
The following intiatives fall within Delta Sigma Theta’s major programmatic initiatives and include:
1) Financial Fortitude Initiative – Comprised of nine components, the Financial Fortitude initiative provides a collaboration of information from the FDIC, the National Endowment for Financial Education and other well known financial institutions. The initiative was designed to help members of the sorority spread financial education throughout their local communities and build wealth and financial security by understanding the basic principles of earning, spending, savings and investing.
2) The Delta Challenge: Homeownership Initiative – The Delta Homeownership Challenge, created in 2003, paved the way for Deltas, family, friends and the African-American community to achieve the dream of homeownership. GEAAC dedicated the month of June as the Delta Challenge: National Homeownership Month. During this time, chapters highlighted the benefits of owning a home. Given the current crisis in the mortgage industry and the potential liability to the organization, the focus of the Delta Homeownership Initiative for this past biennium has been education.
3) Delta H.O.M.E. (Home Ownership Maintenance and Education) – This program was designed to allow Deltas, family, friends and the communities served to be trained on the three phases of home ownership. Information is available on any one or all three phases: Buying Your home, Living in your home and Keeping your home.
4) Entrepreneurship – This financial wealth building initiative focuses on educating individuals within communities on techniques and resources available to enable them to start and operate successful businesses. Entrepreneurship improves the financial stability, provides economic empowerment and enhances the overall quality of life. This initiative aims to provide resource tools from a variety of sources, including the United States Small Business Administration, on topics such as writing an effective business plan, choosing a business structure, financing operations, government contracting, market research strategies, franchising and public and private technical assistance programs for small businesses.