HHS’ Administration for Children and Families (ACF) has announced it will award new grants totaling more than $1.4 million to nine community-based programs designed to help individuals move toward financial security through its Assets for Independence (AFI) grants. Currently, AFI programs serve 48 states and the District of Columbia.
These community organizations also provide assistance with developing the skills to become financially self-sufficient through financial education and other services.
April has been proclaimed National Financial Capability Month.
- Program participants receive access to special matched savings accounts called Individual Development Accounts (IDAs).
- Participants deposit earnings into an IDA, and each dollar they deposit gains a match of $1 to $8 from the AFI project funds.
- The savings and match money must go toward a purchase that moves them closer to financial security: a first home, a new business, or post-secondary education or training.
"These grants will help open the door to opportunity for hundreds of hard-working people who are trying to achieve financial independence.”— Jeannie Chaffin, Director of the Office of Community Services (OCS)
“The AFI program, funded by OCS, brings together all of the elements of financial capability—the capacity, based on knowledge, skills and access, to manage finances effectively.”— Jeannie Chaffin, Director of the Office of Community Services (OCS)
Administration for Children & Families
Office of Communications
330 C Street, S.W.
Washington, D.C. 20201
Phone: (202) 401-9215
Fax: (202) 205-9688