But 130 people on a Financial Stability Council are working to develop proposals to address issues of income, financial education, asset accumulation, affordable housing and health care.

"It is our hope that these proposals will be integrated, have broad reach and deep impact," Love said. He added that by August, the council hopes to have proposals "that will have the potential to help all Utahns have the income, financial education, savings mechanisms and incentives to significantly strengthen our middle class while creating opportunity and hope for low-income working families."

Martha Wunderli, coordinator of the Utah Individual Development Account Network, said that "asset-building program" for low-income Utahns allows a 3-to-1 match (totaling $6,000) that people can use to "bridge the gap and move out into the mainstream." She said she wants better awareness about IDAs.

IDAs are matched savings accounts designed to help people establish a pattern of regular savings and eventually buy a first home, start a small business or obtain education. Among the elements of the program are required personal finance and money management training workshops.

Sheldon Woods, president of the Utah Association of Financial Services, also pushed the idea of financial literacy, noting the success of the Junior Achievement program teaching young people about money and economic principles.

"As financial institutions in the state of Utah, we are committed to solving the problem," said Woods, who also is president and chief executive officer of Pitney Bowes Bank and a member of the Utah Bankers Association executive committee.

"We can build more and more affordable housing. That won't solve the problem. The solution needs to be within the education component, helping consumers understand the budgeting principles and making wise decisions, having the tools necessary to make the best decisions for their individual circumstances, and then providing choice and competition within the marketplace for them to be able to do that."

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E-mail: bwallace@desnews.com