EARN Overview

EARN (Earned Assets Resource Network) is a nonprofit organization in San Francisco whose mission is to break the cycle of poverty among the low-wage workers.  The FPA works with EARN to support their programs. 

 

With access to EARN's financial services, low-wage, working families are transforming their lives. Averaging less than $18,000 in annual income, EARN families are saving over $75 a month, about 5% of their income, and reaching goals that once seemed unattainable.

 

EARN has a “Saver” program which combines ongoing classroom education (EARN Workshops)with matched savings accounts.  Participants can save up to $2,000 and earn a 2:1 match for every dollar they save.  The combined $6,000 can then be used for a home, small business, or higher education.  The Saver program is highly competitive and there is a waiting list of over 500 people.

 

Alumni of the Saver program are encouraged to proceed from their savings success toward the creation and implementation of a financial plan.  The financial plan will serve as a tool to help the Alumni...

  • Further define their financial goals and take steps towards meeting those goals.
  • Leverage and preserve their newly acquired assets.
  • Connect Alumni to products and services that will help them and their families achieve greater levels of financial security.

 

EARN offers three ways to do this. 

  • A full day, eight-hour intensive program offered by Dr. Doug Rice. 
  • A semester engagement in concert with the Financial Planning department at Golden Gate University which links student-planners with EARN Saver alumni. This program is called the Financial Planning Practicum.
  • A year-long engagement with a coach and financial planner.  Called WealthCare, this program is scalable by using coaches from a variety of community-based organizations.

 

FPA members are encouraged to get involved.  Programs and volunteer opportunities are discussed at length in the links provided above.  For further information, please contact Rich Walter, project lead at

RichWalter@gmail.com.

 

Visit EARN's website

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