Grow It – Build Wealth

In order to turn savings into assets – such as a home, car, business, or college education – families need connections to savings and credit-building products, specialized organizations and services, and most important, a long-term savings plan. Financial coaches help families turn savings into investments.

Create an Asset Plan & Connect to Resources
Financial coaches help participants visualize long-term goals and then build a plan to achieve them. Families are referred to resources such as homeownership programs, small business development programs with access to training and capital, college and scholarship programs, and foreclosure prevention programs. Participants continue to reduce debt and improve credit in order to build the capital needed to gain assets.

Improve Credit
A good credit score opens the doors to homeownership, a reliable car, and other assets. Twin Accounts is a financial product that helps participants increase credit scores through a small $300 loan coupled with a one-to-one matched savings account. Credit scores are increased as monthly payments are reported to credit bureaus. After the loan is paid, participants obtain a secured credit card so they continue to build credit.

Develop and Maintain Assets
Individual Development Accounts (IDAs) are three-to-one, matched savings accounts that allow participants to save money towards homeownership, small business development, or education. After the intensive, four-year savings program, participants not only obtain $6,400 to put towards an asset, but they also gain the money management and savings habits to further develop and maintain assets.

Special Announcement

Join us in celebrating the growth of the CWF Network through a new partnership and a new CWF site.

When: July 11th at 10:00 am

Where: Community Alliance of the Far Eastside (8901 E. 38th Street, Indianapolis)

Centers for Working Families make a difference in peoples’ lives every day

From 2011-2013…

852 people have found employment

779 people are enrolled in training and education programs

268 people increased their credit scores