AFI Success Stories
Meet a Few AFI Project Participants
A growing number of individuals and families with low incomes are learning about money management and planning for a stronger financial future through the Assets for Independence (AFI) program. Families who participate in the program have access to special bank accounts called Individual Development Accounts, or IDAs, where their savings are matched by a combination of Federal funds and non-Federal contributions. Participants use their savings and the match funds to save for long-term economic assets, such as first homes, postsecondary education or training, and to start or expand small businesses.
There is no “average” participant in the AFI program: Each person differs in background, skills, and challenges. What participants do share is a determination to make the most of a few dollars from each small paycheck. They also share an intensive educational process designed to increase their knowledge of finances and money management. By the time participants purchase assets with their IDA savings, they are well on their way to being economically self-sufficient for the long term. This is good for them and great for their communities. Click on the following links to meet just a few of the people who have participated in the AFI program and used IDAs—and their knowledge of money management—to secure their families’ economic futures.