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, fund a business, pay for higher education for the participant or child (undergraduate level).
- 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 specific training.
Who Is Eligible?
- PA residents whose household net worth is less than $10,000 (excluding your primary residence and one car) and whose annual household income meets the following guidelines:
Size of Family |
Income Limit |
1 |
$23,540 |
2 |
$31,660 |
3 |
$40,180 |
4 |
$48,500 |
5 |
$56,820 |
6 |
$71,025 |
7 |
$85,230 |
8 |
$113,640 |
|---|
*For family units with more than eight (8) members, add $8,120.00 for each additional household member.
Note: There is a $50 non-refundable enrollment fee to participate in the program and a $50 non-refundable closing fee upon graduation from the program.
How Do I Join?
Come to one of our regularly scheduled orientations. Please bring enrollment fee and proof of income. If you qualify, call immediately to sign up for this great opportunity!
To get started please call our receptionist (215) 564-5500 to reserve a place at our next program orientation.
