LANSING, Mich. The Michigan Credit Union Foundation (MCUF) held a Financial Health Workshop in Lansing with about 75 credit union professionals in attendance.
Featured at the event, and presented by the United Way of Midland County, was The ALICE Experience, an interactive, immersive experience that sensitizes participants to the realities of living below the Asset Limited, Income Constrained, Employed (ALICE) threshold, according to the Foundation.
In United Way’s latest report, 39% of Michigan were living below the ALICE threshold as of 2021.
“The ALICE threshold is right above that level where the family would qualify for a lot of other assistance,” said MCUF Executive Director Beth Troost. “So there are still a lot of needs not being met.”
The ALICE Experience is designed to simulate what it’s like to live below the ALICE threshold. It is built out for users to navigate, as a family unit, living one month in these financially difficult conditions. This is done through stations that attendees visit, such as social services, utilities, employer, mortgage company, child care, pawn shop and bank, the foundation explained.
“Going through the ALICE experience simulation helps our credit union counselors and staff deepen their understanding and empathy for the ALICE population,” continued Troost.
The experience involves detailed logistical challenges for users to navigate that aim to replicate the realistic, and sometimes unpredictable, challenges of daily life under the ALICE threshold
“Living below the ALICE threshold is a reality for many individuals and families in Michigan,” said MCUF Events Specialist Andrea Tucker. “But unless you’ve experienced it, it’s difficult to truly understand the decisions people are faced with. The ALICE Experience bridges the gap from misconception to understanding.”
The ALICE Experience at the MCUF Financial Health Workshop is the latest example of how credit unions are working to become more equipped to assist with members who are struggling financially.
The foundation said a priority on this front is financial counseling certification. Just this year, there are 135 newly trained credit union financial counselors in Michigan and at least 1,083 have been certified in Michigan since 2010.