Family Savings Account (FSA) Program: Increase Your Assets
What is a Family Savings Account?
- A savings and match program created to assist low-income individual achieve self-sufficiency. Funds can be used to purchase a home, home improvement, fund a business, pay for higher education for the participant or child.
- By saving at least $10 per week (or $40 monthly) for at least 13 months and up to 2 years, the account will be matched dollar-for-dollar, up to $2,000 maximum match over two years.
- While in the program, participants will develop financial strategies through financial management clsses and asset training.
Who Is Eligible?
- PA residents whose household income meets the following guideline, and who have a household net worth of less than $10,000 (excluding the primary residence and one car):
Size of Family |
Income Limit |
1 |
$20,800 |
2 |
$28,800 |
3 |
$35,200 |
4 |
$42,400 |
5 |
$49,600 |
6 |
$56,800 |
7 |
$64,000 |
8 |
$71,200 |
|---|
*For family units with more than eight (8) members, add $6,520.00 for each additional member.
Note: There is a $40 non-refundable enrollment fee to participate in the program and a $50 non-refundable closing fee upon graduation.
How Do I Join?
Come to one of our regularly scheduled orientations. If you qualify, call immediately to sign up for this great opportunity. Space is limited so please hurry! Please call WORC at 215-564-5500.
To get started please call our receptionist to reserve a place at our next program orientation.