MEMBER PROFILE

Joe Nolan, Home Green Home

My family's credit union has been Alternatives since '96; We liked the mission, and who could resist banking in a converted house? In 2005 I started thinking about a retail start-up called "Home Green Home" that would sell healthy and eco-conscious home furnishings and renovation supplies. The Business CENTS class helped me to understand and develop the elements of a business plan, and set me on the path to taking the big leap.

At every stage, I've felt well supported by Alternatives' friendly staff. From one-on-one consultation to business banking and credit needs, I've received quick, helpful service at Alternatives. We always look to partner with organizations that share our values, and Alternatives fits the bill.

Living Wage Notes and Sources- June, 2005

Rent: $602/month = $7224/year
Fair market rent for a single bedroom in Tompkins County for 2004.
*0 BR = $585, 2 BR = $705, 3 BR = $853, 4 BR = $885
Source: U.S. Department of Housing and Urban Development website provides article titled "Fair market rents for housing choice voucher program and moderate rehabilitation single room occupancy - fiscal year 2004", pg.40.

Food: $167.90/month = $2,014.80/year
Average of low-cost food stamp plan for males and females ages 20-50.
Official USDA Food Plans: Cost of Food at home, U.S. Average, April 2004
Monthly cost of food on low-cost plan
For women 20-50 years = 156.50
For men 20-50 years = 179.30 Average men and women = $167.90
Source: USDA

Telephone: $36.82/month = $441.84/year
Source: Cost of Verizon local plan ($33.07 including tax) plus the cost of Total Call long distance for 30 minutes/month ($3.75 including tax).
Verizon.com
Total Call long distance: 101phone-deals.com

Transportation: $153.28/month = $1839.40/year
According to the 2000 U.S. Census, 59.8% of Tompkins residents drive alone to work, 12.2% carpool, 4.8% use public transportation, 16.8% bike or walk, 1.3% use motorcycles, and 5.1% work at home.

TCAT yearly bus passes cost $495. The 2002 Consumer Expenditure Survey for the second quintile reports gasoline and motor oil to cost $907 per year, and other vehicle expenses to cost $1,570.

A weighted average:
(907+1570).733 + (495).048 + (0).168 + (0).51 = $1839.40
Numbers differ from 2002 because there are fewer people driving, the annual bus pass saves money, and gas prices are higher.
Sources: Bureau of Labor Statistics http://www.bls.gov/cex/csxann02.pdf.
New York Self Sufficiency Standard
http://www.sixstrategies.org/files/Resource-StandardReport-NY.pdf

Savings: $52.50/month = $630.00/year
We raised savings according to inflation
Source: The inflation calculator from the Bureau of Labor Statistics.
http://www.bls.gov/ click on Inflation Calculator

Health Care: $101.26/month = $1215.17/year
Total represents the premium paid by Alternatives Federal Credit Union staff plus out-of-pocket expenses.
For Alternatives Managed Choice 1, the total premium is $272 a month and 25% of that is $68 a month, or $816 a year.

Bureau of Labor Statistics Consumer Expenditure Survey, Northeast =$399.17 for Medical services, drugs and medical supplies.
http://www.bls.gov/cex/2003/region/region.pdf

Employed individuals whose employer does not provide health insurance can purchase coverage through Healthy NY for $$127.56/month w/o drugs, $186.79 w/drugs.
http://www.ins.state.ny.us/website2/hny/english/hnyr.htm

Recreation: $105.92/month = $1,271/year
The cost of sports and recreation, TV, radio, and reading materials.
Source: Claritas, Consumer Spending Patterns 3/04

Miscellaneous: $109.13/month = 1309.56/year
The cost of clothing, personal care, and housewares and small appliances.
Source: Claritas, Consumer Spending Patterns 3/04

Day Care: $562.50/month = $6,750/year for infant/toddlers
$395.83/month = $4,750/year for preschool
$291.67/month = $3,500/year for school-age
Source: National Association of Child Care Resource and Referral Agencies (NCCRRA)
http://www.naccrra.org/docs/Child_Care_In_America_Facts.pdf

Comparisons:
Federal poverty level: $9,310 for single person
Current Minimum Wage in New York: $6.00/hour = $12,480 annual @ 40hours/week
Recommended Living Wage: $19,102

OTHER STUDIES
Self Sufficiency Standard, Wider Opportunities for Women Six Strategies

ACORN
Living Wage Campaign

Josiah Bartlett Center for Public Study, Springfield, Vermont