Since 2016, CFWNC has invested more than $500,000 in OnTrack Financial Education and Counseling’s SECURE program that provides financial literacy training and a three-to-one match to help low-income people establish and maintain emergency savings. The matched savings grants are a proactive investment in asset building specifically intended to help people exit the cycle of poverty, and CFWNC funds will serve over 500 individuals. Matched savings accounts are intended to enhance economic stability for low-income households and increase financial literacy. Money saved and matched can be used for housing, home repair, post-secondary education, transportation, debt reduction and more.
CFWNC funded a successful pilot project at OnTrack in 2016 and a two-year grant in 2017 that funded expansion into three rural counties. As a result of this sustained investment, OnTrack has a strong process for programming and referrals for SECURE. The main qualifier for participation is income: SECURE is available to people with household incomes between 30% and 80% of Area Median Income (AMI); for example, a family of four qualifies if household income is between $25,750 and $53,100.
The program is available in Buncombe, Haywood, Henderson and McDowell counties. Since inception, 325 graduates have built an emergency fund, functioning budget and monthly savings habit.
Learn more about SECURE.
“I want better for me. I want better for my child. I'm willing to work hard for it."
— Brittany, SECURE Client