MEDIA RELEASE

The county invites Hawaii Island communities to attend the Family Financial Empowerment Day 10 a.m.-3 p.m. Friday, March 25 at the West Hawaii Civic Center in Kona.

This no-cost event will feature presentations and one-on-one counseling sessions on free tax preparation, credit, budgeting, federal student aid (FAFSA) application, financial wellness, and a variety of resources.

Today, Hawaii residents face significant life challenges:

* 25 percent of Hawaii County Household lives in asset poverty;
* 25 percent of Hawaii County Household are enrolled in food stamp program (SNAP);
* 54 percent of Hawaii County Residents have subprime credit scores;
* 49 percent of Hawaii County homeowners are cost burdened (pay more than 30 percent of their income);
* Hawaii has one of the lowest annual wages and highest living cost in the nation.

According to RealtyTrac, Hawaii Island reports a total of 2,535 family homes going through foreclosures. Meanwhile, the Internal Revenue Service has reported more than $40 million in tax credits went unclaimed by Hawaii families in 2008-09.

The Family Financial Empowerment Event will provide the opportunity to help local families claim earned income tax, child tax, and education credits, mobilize resources to address foreclosure and receive free credit counseling, begin financial planning for post-secondary education and small business start-up, and learn about credit reports, bankruptcy, financial wellness and unemployment resources and much more.

Ka Hana Noeau, Partners in Development Foundation held a Financial Empowerment Day at the Kohala Intergenerational Center in February.

“I came (to the event) because members of my family want to go to college, and college costs a lot of money,” said Jeffrey Coakley from Kapaau. “After sitting down with the FASFA specialist, I found out that this was possible. It’s a financial relief to know that (my son) can go to college.”

“We appreciate the help. It’s a one-stop-shop!” said Deirdre and Jason Ahsing from Kapaau.

This event is sponsored by the County of Hawaii, Department of Research and Development, in partnership with the Hoowaiwai Asset Building Network members and the Hawaii Alliance for Community-Based Economic Development (HACBED).