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A s s e t s   f o r   I n d p e n d e n c e​ ​
Category: Financial Assistance — Grants
Agency Name:

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.

Program Objective:

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.

Eligibility Requirements:
LID and CDFI credit unions are eligible for AFI grants.
Program Features:

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.

Program Materials:
  1. ​Webinar co-sponsored by NCUA's Office of Small Credit Union Initiatives: http://www.idaresources.org/page?pageid=a047000000Ibrg5AAB
  2. 2012 Grantees
Contact:

Assets for Independence Resource Center

Website: www.IDAresources.org

Email: info@IDAresources.org

Telephone: 1-866-778-6037