Helping the Poor to Save: Recent Foundation Grants
April 15, 2004 | Read Time: 1 minute
- Annie B. Casey Foundation (Baltimore): To help credit unions expand their services to families
that don’t use banks: $90,000 to the Woodstock Institute (Chicago).
- Fannie Mae Foundation (Washington): To support programs that advise low- to moderate-income people on how to gain the financial ability to purchase homes: $300,000 to Atlanta Consumer Credit Counseling Services.
- Ford Foundation (New York): To expand savings programs for low-wage workers by demonstrating the feasibility as an employee benefit of savings accounts that feature deposits matched by an employer: $400,000 to the Women’s Self-Employment Project (Chicago).
- Liberty Hill Foundation (Santa Monica, Calif.): To teach basic banking skills to newly arrived immigrants: $25,000 to Comunidades Federal Credit Union (Los Angeles).
- Charles Stewart Mott Foundation (Flint, Mich.): To support advocacy campaigns designed to increase the financial literacy of poor people and to expand awareness of individual development accounts — savings plans that match money deposited by low-income workers with government or private dollars: $300,000 to the New America Foundation (Washington).
- Charles and Helen Schwab Foundation (San Mateo, Calif.): To study and provide advocacy for the concept of a universal savings account for each child born in the United States: $200,000 to the Corporation for Economic Development (Washington).
