Save Up Program

by RISE Foundation, Inc.
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Save Up Program
Save Up Program
Save Up Program
Save Up Program
Save Up Program
Save Up Program
Save Up Program
Save Up Program
Save Up Program
Save Up Program
Save Up Program
Save Up Program
Save Up Program
Save Up Program
Save Up Program
Vision Board 1
Vision Board 1

The RISE Save Up program has helped thousands of employed part-time and full-time hourly workers learn how to manage their income, obtain, and repair credit, and save money they can later use to become a first-time homebuyer, pay for post-secondary education, purchase a vehicle outright or start a microenterprise/small business. RISE matches every dollar saved by citizens with an additional two dollars up to a total of $3,000 (savings plus match) for their asset purchase.

To date, a 1000+ working families have successfully completed financial literacy classes through Save Up and have accumulated savings and/or assets worth over $10 million. Following the classes, 85% of program participants continue to use the skills they’ve learned, used their knowledge to make best use of their financial resources, acquired additional assets on their own and become taxpayers rather than receive benefits of tax dollars.

One of the most important ways that program participants stay on target with their RISE goals is through the development of vision boards. A vision board is a collage of images, photographs, affirmations, and quotes that help you visualize your goals and dreams. Most of us have dreams, but they often get lost in the endless stream of our daily thoughts. This is where vision boards come in. They help you to put your focus back on what matters.

Vision boards will help you to feel inspired, motivated, and more focused on achieving your future vision. As a result, they are completely unique to you and will help you to visualize what you want to achieve, who you want to be, and what you want to be doing in the future. When you have a clear vision of what you want, it becomes easier to get into the mindset that will allow you to achieve it. Vision boards serve as a daily reminder of your goals. Ultimately, your thoughts align with them and manifest into actions that lead to success.

RISE is proud of the magnificent vision board creations that the Save Up program participants present during each class cohort. Each of these successes can be attributed to the support that we receive from donors like you. Your contributions are very important and allow RISE to continue reaching families striving for a hand up and not a handout.

Vision Board 2
Vision Board 2
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Save Up Vehicle Triumph
Save Up Vehicle Triumph

For a large percentage of Memphis, transportation for low-income residents has been a long-standing barrier to better educational and employment opportunities. The RISE Foundation has continued to tackle this critical issue through its signature program Save Up. This matched savings opportunity helps Save Up program participants purchase moderately priced vehicles either outright or within 12-24 months.  Program participant Ms. Hart joined RISE Save Up through a community partner peer referral. She says that Save Up enabled her to become more disciplined as it relates to saving, budgeting and forecasting her long-term earning potential. According to Ms. Hart, the continuous support she received from her program coordinator nurtured growth in areas she never expected.

The process of purchasing her vehicle was eye-opening and not without challenges. She says that she had to overcome numerous issues when she began the saving process including the onset of the global pandemic. She went through a time of great frustration and stress, due to her position at work changing from full-time to part-time because of COVID-19. Despite it all, she refused to give up on her asset goal, because the purchase of a vehicle was a critical necessity. It was her guarantee to mobility and accessibility to life necessities such as enhanced employment opportunities.

She is still very complimentary of her program coordinator, who she admits continuously applauded her efforts to purchase an automobile, which would finally afford her the empowerment of reliable transportation. In April of 2021, the hard work paid off and Ms. Hart purchased her car. She is so thankful for her vehicle, and the multitude of tangible and intrinsic benefits that come along with it. Now she has the ability to accept a better job outside of her neighborhood, backed by the confidence that she has her transportation concerns eliminated.  

Your donations to the RISE Foundation help families to make better financial choices for themselves that are life altering and opens possibilities for them that they could never have imagined.  Please consider a gift today towards a RISE program like Save Up.  

Vehicle Happiness
Vehicle Happiness
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When the MassMutual Save Up program was first launched in the Frayser Community in 2019, The Pursuit of God Church and Transformation Center was one of the first community partners to the table to help spread the word and to offer its facility as a training site. Pastor Rickey Floyd immediately committed to participate in words, deeds, and action.  He assigned his Administrative Assistant, Ms. J, to serve as a point person between the Church and RISE.

Ms. J would soon see the merits of the program and choose to join Save Up in February 2019. She is now a proud RISE graduate and the newest business owner of the program.  Ms. J selected microenterprise as her asset goal. Her business - Promise T-Shirts & Apparels - is a t-shirt and apparel company that boldly shares the promises of God through expressions of Bible Scriptures to increase faith and give encouragement to others. “I am so excited, RISE is helping my dream become a reality,” Ms. J shared as she came by the RISE office to complete her business plans.  She explains that seeing her dream come to life is a moving and emotional experience.

Ms. J also shared that she overcame many challenges and barriers to reach this goal. She says that she did it by remaining a faithful saver and following the time frame of her program. A lesson for others she wants to share is that keeping a plan of savings will pay off in the end. She still uses her spending plan and has even set a new goal to increase her savings and to grow her business. “Goal is one word of inspiration I would like to share with RISE participants, and the major life lesson I took from the program is persistence is always rewarding”.  

Your investment in RISE equals the permanence of self-sufficiency for hundreds of families looking for a hand-up and not a hand-out.  Please consider contributing to the Save Up program today to change the lives of so many, one family at a time.

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Tamika
Tamika

Tamika was referred to the Greater Memphis Financial Empowerment Center (GMFEC) by community partner, Habitat for Humanity of Greater Memphis. Tamika says joining GMFEC has been a step in the right direction financially and she would highly recommend every citizen of Memphis to give it a shot!

Since working with her GMFEC financial counselor, she has been able to increase her credit score over 100 points by significantly reducing non-mortgage debt and paying off 5 delinquent accounts.  As she increases her credit score, reduces debt, and reduces delinquent accounts, her second goal of homeownership is soon to be achieved.

Tamika exclaims, “my credit score is constantly going up and I am extremely, extremely excited about seeing the growth”!  She has encouraged all her friends to give GMFEC a chance and stick with it to get the best results.  Tamika knows firsthand that you will get successful financial results working with the GMFEC.  “It (GMFEC) will absolutely work, if you listen to what the financial counselors tell you to do and follow the service plan”.  Tamika is now on the road to homeownership and will continue to work with her financial counselor and keep her credit score on a positive note.

Please consider making a contribution to the RISE Foundation today to ensure that programs like the Greater Memphis Financial Empowerment Center can help even more people with free one-on-one financial counseling, regardless of income or employment status. 

RISE GMFEC
RISE GMFEC
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Ms. C and Family
Ms. C and Family

During a presentation at a RISE community partner event a welcome home moment happened.  A RISE program coordinator spoke the magic words “a little determination and a lot of planning” to one of the attendees and Ms. Candi was convinced that she could become a RISER.  Her employer, MAXIMUS has been working with the RISE Foundation since 2016 and introduced the Save Up program to new agency employees like her in the fall of 2018.

Ms. Candi says that her experience in completing the program did not come without challenges. Her journey was long, but with the support of program staff, she developed a habit of discipline and determination.  She produced and maintained a spending plan and became good at balancing her budget. Learning how to differentiate between wants and needs led to her becoming a more consistent saver. She also developed the habit of creating goals that were short term, mid-term, and long term in nature, yet strategically detailed in how they would be accomplished.

Ms. Candi says that with what she has learned in the program her mind now is on building generational wealth for her children. The motto that she ingrained in her mind to succeed in the program was “never give up no matter what happens”. 

Since moving into her dream home, she is enjoying her new space by relaxing with a little TV binging of favorite Netflix documentaries with her family. She and the kids now have the space to enjoy playing board games that she usually loses.  Ms. Candi knows what real winning feels like every day her family steps through the doors of their new home.  Through her participation in the Save Up program she vows to continue seeking avenues to build wealth for future generations of her family.

Welcome Home
Welcome Home
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Organization Information

RISE Foundation, Inc.

Location: Memphis, TN - USA
Website:
Facebook: Facebook Page
Twitter: @RISEmemphis
Project Leader:
Tangela Morgan
Memphis, Tennessee United States
$1,270 raised of $25,000 goal
 
36 donations
$23,730 to go
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