WORC Incentive Savings Program
Invest in yourself and your future through WORC’s Incentive Savings Programs. Our incentive Savings Programs assist low-moderate income individuals in building their personal financial strength through an innovative matched savings program and ongoing financial management education.
Successful account holders can accumulate enough assets to apply to closing costs on a home, assist in tuition, books or technology at a college or vocational school. or aid in acquiring needed inventory or technology in a business.
Family Saving Account
The Family Savings Account (FSA) Program is an innovative matched savings program for low to moderate income individuals to encourage self-sufficiency through savings, financial management education and asset accumulation.
Developed by WORC in partnership with the Commonwealth of PA, The Family Savings Account assists individuals whose income is below 400% of the federal poverty level, in building their personal financial strength by learning the value of saving money and developing a fundamental knowledge of financial opportunities. WORC piloted the program in 1997, in Southeastern Pennsylvania with 100 account holders.
WORC continues to operate the program in partnership with several community organizations. Successful account holders can accumulate enough assets to apply to closing costs for a home purchase; Apply funds towards tuition, books or technology (undergraduate level) at a College or Vocational School; or aid in purchasing instrumental items for business operation.
Participants will attend a mandatory group orientation, complete a budget and an individual savings plan agreement. They will complete six sessions of financial management training including budgeting, debt and credit building, banking products, and basic financial planning, and they will receive ongoing case management services.
WORC offers the following Savings Programs:
- Higher Education Account
- Home Purchase Savings Account
- Emergency Savings Account
- Childrens Savings Account
- Business Savings Account
For more information, please read below.
Higher Education
Savings Account
- Save $1,000
- WORC will mach $3,000
- Undergraduate or vocational programs; savings must be completed within 3-6 month
- Enrollment Fee: $50
For eligbility requirements click here!
Home Purchase
Savings Account
- Save $2,000
- WORC will match $4,000 (credit score 640+ required; submit credit report with application.)
- Free reports available at experian.com; savings must be completed within 3-6 month.
- Enrollment Fee: $50
For eligibility requirements click here!
Emergency Savings Account
To help you get started with Emergency Savings:
- Save a minimum of $500 over 6 months
- WORC will match your Savings with a $500 Deposit
- Enrollment Fee: $25
For eligbility requirements click here!
Children's Savings Account
- Claim your child's Keyston Scholars account which as a free $100 investment for post-high school training and education.
- Open a PA 529 account and save $200
- WORC will match your savings with an additional $200 (totalling $500 towards your child's future)
- Register for our program enrollment and learn how to start saving today
For eligibility requirements click here!
Business
Savings Account
- Save $1,500
- WORC will match $3,000 (must be a pre-existing client of WORC).
- For the business goal, savings must be completed within three (3) months.
- Must complete the WORC Smart Launch 2.0 Cohort
- Enrollment Fee: $50
For eligibility requirements click here!
How The Savings Program Works:
Select a savings goal for Children, Education, Home Purchase, Business, or Emergency Savings,
Save. Make a minimum deposit each month toward your goal
Gain new skills by attending online training to help build your financial knowledge Invest your savings in your goal. You are also provided post-gain new skills by attending ongoing training to help build your financial knowledge
Your savings are matched, helping you move faster toward your goal. Savings are matched at different levels based on your goal. Invest your savings in your goal.
Invest your savings in your goal. You are also provided post-asset counseling as needed to help you succeed
To Get Started Register for a Free Orientation
Family Saving Account Program
(Orientations are held every Thursday at 6pm via Zoom)
Enrollment Fee Payment
Incentive Savings Program – Enrollment Payment
Applicants who have already submitted their Incentive Savings Program application must complete the required enrollment payment to activate participation.
Please click the appropriate PayPal link below:
FSA (Family Savings Account) Program – PayPal Link
Emergency Savings Program – PayPal Link
Enrollment is confirmed after payment is successfully processed.