||Financial Assistance — Grants |
U.S. Department of Health and Human Services Administration for Children and Families, Office of Community Services
Target Credit Union Participants:
Low-income designated (LID) or CDFI credit unions. Other credit unions may participate in other capacities.
The federal Assets for Independence (AFI) program funds community-based projects that enable low-income people to become more economically self-sufficient. Grantees operate Individual Development Account (IDA) programs, in which individual account holders receive up to an 8-to-1 match on their savings for education, purchasing a home, or starting a business. A credit union can be the depository institution that holds the IDAs, provides financial education, or performs other roles.
||LID and CDFI credit unions are eligible for AFI grants.|
A credit union can become an AFI grantee on its own or be a subgrantee within a network project. Financial education and asset training for the account holders are key elements of the program.
- Webinar co-sponsored by NCUA's Office of Small Credit Union Initiatives: http://www.idaresources.org/page?pageid=a047000000Ibrg5AAB
- 2012 Grantees
Assets for Independence Resource Center