Partnerships

Click here to print this profile

Click here to return to the partnership page

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:	Webinar co-sponsored by NCUA's Office of Small Credit Union Initiatives: http://www.idaresources.org/page?pageid=a047000000Ibrg5AAB 2012 Grantees
Contact:	Assets for Independence Resource Center Website: www.IDAresources.org Email: info@IDAresources.org Telephone: 1-866-778-6037