Philadelphia based microenterprise organization, Women’s Opportunities Resource Center was awarded the Innovation in Technology Award from the Association for Enterprise Opportunity (AEO) for its innovative distance-learning curriculum, Building Blocks to Financial Success.  WORC President, Lynne Cutler, said, “We are so pleased that WORC and its curriculum, Building Blocks, were selected to receive this award.  Personal financial management tools and knowledge is critical for low-income individuals, families and small business owners to become economically self-sufficient.”

The award was announced at the Fifteenth Annual Association for Enterprise Opportunity Conference in Portland, Oregon on May 13, 2005.   AEO is the national association for US Microenterprise development.

Financial education is critical to combating rising consumer debt and the current low rate of savings.  According to CFED’s 2005 Asset and Opportunity Scorecard, nearly one in five American households owes more than it owns or has zero net worth and one in five young adults (25 to 34) with incomes less than $50,000 spend over 40% of their income servicing debt including mortgages and student loans.   

Rose, an online learner, said “I was so amazed at the information I received, I was able to do it on my own time.  I wish I would have known about these classes earlier in life, I wouldn’t be in as much debt as I am in now.”

WORC’s Building Blocks to Financial Success at www.worcfinancialed.com teaches people to change their spending habits, and how to save and invest for their future.  It provides basic training in budgeting, debt and credit repair, banking products, taxes, insurance and basic financial planning.  To date, over 500 individuals have received online instruction and the curriculum is now used in 6 states.  

WORC partnered with Cinemagic, a national leader of online distance learning and multimedia design and the development of Building Blocks to Financial Success was made possible through funding from the U.S. Department of Commerce and Pennsylvania’s Department of Community and Economic Development.  The curriculum is approved by the National Endowment for Financial Education (NEFE) and is included in the American Express Financial Education Clearinghouse.  

The Women’s Opportunities Resource Center (WORC) promotes social and economic self-sufficiency for economically disadvantaged women, men and their families through self-employment training, support services, peer support, savings programs and access to business and financial resources.   WORC is one of the oldest microenterprise development programs in the United States and received The 2001 Presidential Award for Excellence in Micro-enterprise Development:  Poverty Alleviation from the United States Department of Treasury.  Over 600 WORC graduates operate small businesses in the Philadelphia region, providing valuable products and services and affording employment opportunities in our community.   

The Association for Enterprise Opportunity (AEO) is the national association of community-based organizations that provides entrepreneurial education, access to capital, and support to aspiring and active low-income entrepreneurs. AEO's mission is to support the development of strong and effective U.S. microenterprise programs to assist underserved entrepreneurs in starting, stabilizing, and expanding businesses.