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.
For further information, please contact Chris Remedios at Chris@FinancialConnections.com.