Bank encourages others to help fund the need in this childcare desert
DALLAS, September 9, 2019 – Each year, thousands of Dallas families struggle with access to affordable childcare, a growing problem that often leads to wage loss, career stagnation and deferred education, particularly in households headed by single women. Recognizing this problem, NexBank invested in making a sizable gift of $150,000 to the Child Care Access Fund at Texas Women’s Foundation (TXWF) to establish the first afterschool care program at Pleasant Grove Elementary School. NexBank’s investment will help run the program for three years from 2018 to 2021.
Roslyn Dawson Thompson, Texas Women’s Foundation president and CEO, said, “Our research showed the need for affordable child care, particularly for low-income families. As a result, we established the Child Care Access Fund to invest in cost-effective, efficient programs that produce meaningful change for families in need, which are often headed by single women. We are thankful for NexBank and other donors who have contributed and hope others will join them.”
TXWF found strong demand and has been able to serve 30 students with high quality afterschool care from the initial investment. With 80 students on a waitlist, TXWF and NexBank are reaching out to other companies to help fund the increasing need in this childcare desert.
Thanks to NexBank’s donation, TXWF partnered with established providers—Dallas Afterschool—to provide high quality afterschool care, which focused on improving the reading skills, writing and homework assistance along with fitness and gym activities. Additionally, students received leadership development training and learned about self-esteem, healthy relationships and the environment.
A highlight was a Parent Appreciation Night in which parents learned about their students’ successes and were introduced to other community resources. Close to 95 percent of families attended, and parents were appreciative of this high caliber affordable childcare. Monica Bocanegra, a parent and Parent Teacher Organization vice president, remarked, “This is a first for us to have an after school program offered at our school…we need more programs like this for our children and the parents.”
There are opportunities for banks to receive Community Reinvestment Act (CRA) credit for investing in childcare programs. NexBank was recognized by the FDIC for its support of the program and its innovative approach to CRA investment activities. For more information about childcare statistics, please refer to the addendum.* For more information about the program, please contact Ashley Lindsay at alindsay@txwf.org or call 214.525.5311.
About Texas Women’s Foundation
Texas Women’s Foundation, formerly Dallas Women’s Foundation, is investing to Transform Texas for Women and Girls, empowering them to build stronger, more equitable communities throughout Texas. One of the world’s largest women’s funds, it is a trusted leader in advocating for and advancing economic security for Texas women, girls and families, and ensuring women and girls are enabled and supported in taking leadership roles in every sector in the state. With more than $35 million in assets, Texas Women’s Foundation raises approximately $9 million a year to underwrite groundbreaking statewide research on issues affecting women and girls – providing decision-makers and lawmakers with critical data to inform policies, practices and programs in the state. Funds also sustain the Foundation’s $6 million in annual grants, mission-focused gendered asset investments, and support for innovative programs and solutions to help Texas women and girls thrive. For more information, visit www.txwf.org, Facebook, Twitter, LinkedIn or Instagram or donate now.
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Things You Should Know About Texas Women and Child Care:
- 62 percent of Texas moms are in the paid labor force.
- The majority of Texas children are part of families where both parents work outside the home, or one parent if in a single-parent family. This describes 59 percent (1.3 million) of children under age 6, and 62 percent (1.7 million) of children ages 6 to 12.3
- The average yearly cost of full-time child care in Texas is between $7,000 to $9,000, depending on the age of the child.
- Access to child care helps women increase their employment, wages, job stability and advancement.
- Fewer than 10 percent of eligible children receive child care subsidies.
- Pre-K provides child care and early education to 220,000 children in Texas.
*Source: Texas Women’s Foundation’s Economic Issues for Women in