FOR IMMEDIATE RELEASE:
Wednesday, September 9, 2009
Contact: Kenneth J. Wolfe
(202) 401-9215
Over $4.5 Million Awarded for Individual Development Account Projects
‘Assets for Independence’ Grants Provide Financial Education, Matched Savings
Accounts, and other Supports for Low-Income Individuals and Families
The Administration for Children and Families (ACF) at the U.S. Department of Health and Human Services (HHS) today announced the award of 24 Assets for Independence (AFI) demonstration program grants totaling $4,507,936 to fund financial education and economic support for low-income individuals and families across the nation.
AFI grants are administered by the Office of Community Services at ACF. Through this program, ACF awards grants to community-based nonprofits and government agencies that help participants save earned income in Individual Development Accounts (IDAs). Every dollar in savings deposited into an IDA is matched with grant funds.
“In these tough economic times, when many people are struggling, the AFI program demonstrates a common sense approach that enables more families to remain economically secure,” said David Hansell, acting assistant secretary for children and families. “AFI grantees help the working poor have a firmer economic footing and hope for the future.”
Currently, nearly 350 AFI projects are in progress across the country, and more than 62,000 families have saved earned income in IDAs supported by the AFI program. More than 24,000 participants have used their IDA savings to acquire a lasting and appreciating asset such as purchasing their first home, capitalizing on a small business, or enrolling in post-secondary education or training.
Below are the new AFI grants. For more information on the Assets for Independence program, visit: http://www.acf.hhs.gov/programs/ocs/afi/assets.html.Grantee |
City |
State |
Grant Amount |
|---|---|---|---|
Santa Cruz Community Credit Union |
Santa Cruz |
CA |
$28,000 |
Mile High United Way |
Denver |
CO |
$352,941 |
United Way of Metropolitan Atlanta |
Atlanta |
GA |
$160,000 |
Iowa Credit Union Foundation |
Des Moines |
IA |
$257,920 |
Jewish Family & Career Services of Louisville, Inc. |
Louisville |
KY |
$46,999 |
Interfaith Housing Services, Inc. |
Hutchinson |
KS |
$350,000 |
Massachusetts Association for Community Action (MASSCAP) |
Boston |
MA |
$145,882 |
The Midas Collaborative, Inc. |
Allston |
MA |
$202,000 |
Penquis Community Action Program |
Bangor |
ME |
$50,000 |
Urban Strategies, Inc. |
St. Louis |
MO |
$117,647 |
North Carolina Department of Labor |
Raleigh |
NC |
$150,000 |
Red River Valley Community Action |
Grand Forks |
ND |
$143,750 |
Women’s Economic Self-Sufficiency Team |
Albuquerque |
NM |
$400,000 |
United Way of Essex and West Hudson |
Newark |
NJ |
$439,900 |
Ifetayo Cultural Arts Academy, Inc. |
Brooklyn |
NY |
$35,294 |
Alternatives Federal Credit Union |
Ithaca |
NY |
$58,824 |
United Way of Wayne and Holmes Counties, Inc. |
Wooster |
OH |
$20,500 |
Community Action Agency of Oklahoma City & OK/CN, Inc. |
Oklahoma City |
OK |
$75,000 |
Neighborhood Partnership Fund |
Portland |
OR |
$300,000 |
The Cooperative Ministry |
Columbia |
SC |
$298,731 |
The Lakota Funds, Inc. |
Kyle |
SC |
$38,823 |
Alliance for Multicultural Community Services |
Houston |
TX |
$312,500 |
Central Vermont Community Action Council, Inc. |
Barre |
VT |
$56,475 |
Kanawha Institute for Social Research & Action, Inc. |
Dunbar |
WV |
$466,750 |
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Note: All ACF news releases, fact sheets and other materials are available at www.acf.hhs.gov/opa/index.html.