Ent Credit Union and United Way share groundbreaking study

Data reveals 1 in 3 Colorado households struggle to afford basics

COLORADO SPRINGS, Colo. — Colorado United Ways and Ent Credit Union have partnered to release ALICE in Colorado: A Study of Financial Hardship, a report that highlights the financial struggles faced by Colorado’s ALICE (Asset Limited, Income Constrained, Employed) households. These hardworking families—often the backbone of our communities, including teachers, nurses, first responders and retail and restaurant workers—earn more than the federal poverty level but less than the cost of essentials like housing, childcare, food, transportation, healthcare, technology and taxes. With little or no savings, ALICE households are one emergency away from falling into poverty, underscoring the urgent need to address these challenges.

The ALICE report is the most comprehensive depiction of financial need in the state to date, using the latest data from a variety of sources, including the U.S. Census. The report unveils new measures, based on 2022 income levels and expenses, that quantify how many Colorado households are struggling financially and why.

One key finding shows that 1 in 3 Colorado households struggle to afford basic necessities. Deisy Cardona, a 43-year-old widowed mother of three who identifies as part of the ALICE population, is among them. During the launch of ALICE in Colorado, she shared her story about the challenges of making ends meet after losing her husband to cancer.

“I applied for all the benefits but because I was fortunate enough to have a good paying job, I didn’t qualify,” said Cardona. “It didn’t matter that my pay was nowhere near enough to cover all our regular expenses—rent, utilities, car payment, car insurance with a teenage boy, groceries, phones, back-to-school shopping, winter coats and the like. My teenager likes to say, ‘we’re poor, but not poor enough.’” Cardona is not alone. ALICE data finds that 37% of Colorado residents are not earning enough to cover basic expenses such as housing, health care, transportation, food, childcare and other key essentials.

“We all know ALICE,” said Annie Snead, Director of Community Advocacy at Ent Credit Union. “They’re the recent graduate struggling to afford rent, the young family burdened by childcare costs and the mid-career professional facing underemployment. Ent partnered with United Way on this important research to better support our 500,000+ members, many of whom share these challenges. These individuals are vital to our state’s economic future but face barriers that make financial stability difficult to achieve.”

ALICE data highlights systemic barriers and identifies opportunities to develop solutions that foster financial stability and equity. The findings will be used to inform policies and programs aimed at supporting ALICE families statewide. To read a copy of the report and find county-by-county and town-level data on the size and demographics of ALICE as well as the community conditions and costs faced by ALICE households, visit https://www.unitedforalice.org/state-overview/colorado.