July 28, 2014
Washington, PA — Community Action Southwest has just five remaining slots for participants in its matched savings program, Assets for Independence. The program provides a $2 match for every $1 saved. Participants are eligible to receive up to $4,000 in matching funds for the first $2,000 they save.
To-date, 12 area residents have completed the program and acquired their asset while 65 are still saving towards their goal.
Participants must be a Washington or Greene County resident and agree to open a savings account at one of nine partnering banks to save their earned income with the goal of using their savings and match monies to: 1) purchase their first home, 2) attend a trade school or college or 3) begin or expand a business.
For those saving towards the goal of purchasing their first home, Community Action Southwest links them to their Home Ownership Center where certified HUD Housing Counselors review their credit scores, help them repair their credit as needed and mentor them through the home purchase process.
For participants interested in attending a trade school or college, the agency’s Postsecondary Education Coordinator can help them to determine a course of study and a school while helping them through the enrollment and financial aid application processes.
Assets for Independence was launched in 2011 when Community Action Southwest received a $200,000 grant from the U.S. Department of Health and Human Services to launch the program in Washington and Greene Counties. To-date, the agency has secured $178,913 of the required $200,000 in matched funding from the nine partnering banks.
Assets for Independence is part of CAS’ Community Action WORKS initiative designed to serve its clients in a comprehensive fashion. Addressing adult education, employability, skills, housing and asset development, while creating opportunities and providing support for economic independence is the framework in which client success is realized at the agency.
For additional information about Assets for Independence, please contact Sarah Schneider at 724.225.9550 ext. 423.
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