Project Report
| Apr 19, 2024
Delay is Not Denial
By Shelia Terrell | Project Leader
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In August of 2022, Latishia Bowden began her journey with the Save Up Program. From the start, she was intentional about making her deposits and reaching her goal of homeownership. Due to her commitment to her goal, she reached her savings goal of $1,000.00 in 10 months! While saving, Ms. Bowden attended a home ownership workshop where she gained valuable insight to the homebuying process and when she was ready found a lender that offered her the best first-time buyer program. Unfortunately, the home she initially found did not work out. When Ms. Bowden called to inform RISE of the news, she was a little defeated. Staff told her that the delay was not a denial and that when the time was right everything would work out in her favor.
After this delay, Ms. Bowden continued to work on her credit and finances and in November began the homebuying process again. Despite the 6-month delay, Ms. Bowden found another home that met and exceeded her needs and closed on February 28, 2024. She is now the proud homeowner who has a place of her own and her family.
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Dec 9, 2023
Save Up Superstars
By Carmanise London | Sr. Program Manager
![KJ]()
KJ
KJ is a Save Up Superstar by taking advantage of all that RISE has to offer her and her family! She began her journey with the Save Up Program in August 2022 with a goal of home ownership. Before then she was already connected to RISE through the Greater Memphis Financial Empowerment Center (GMFEC) receiving financial counseling. During her time in class, she asked questions and interacted with others in class. Her next program goal accompishment was to open an IDA Savings account and she chose to direct deposits from her weekly pay into her account.
In addition to participating in Save Up, she continued to work with GMFEC and has increased her credit score by over 130 points. Due to economic circumstances, the asset goal was changed from a home to a computer. KJ now plans on using the computer to obtain better employment and eventually further her education. She will use the computer for educational purposes with her daughter as well. This is certainly not the end of her dreams to own a home either. Working with RISE community partners, she hopes to purchase a home within the next two years.
We are sure that she will be successful and are beyond proud of her accomplishments!
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RISE
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Aug 14, 2023
A Dream Transformed through Saving
By Carmanise London | Sr. Program Manager
![JB New Home]()
JB New Home
Ms. Bates started her journey with RISE in August 2020 working towards her goal of home ownership. She successfully completed her financial education portion of Save Up and immediately began using the skills and tools she learned. Ms. Bates then opened her Individual Development Account (IDA) and began making her money deposits and reached her $1,000 savings goal within 14 months of being in the Save Up program.
While she was saving towards her goal, she also worked with the Greater Memphis Financial Empowerment Center (GMFEC) to increase her credit score to better position herself when applying for a mortgage loan. In April 2023, Ms. Bates purchased a home for herself and two children. We are so proud of her and wish her many years of happiness and memories.
In fiscal year 2022-2023, Save Up completed 16 asset purchases totaling $31,384.39. These purchases encompassed all the eligible assets available through the Save Up Program. Participants were able to use their matched funds to purchase 5 homes valued at $1,058,000, 4 home improvements, 1 vehicle, 4 computers, 1 post –secondary education and the start of 1 micro-enterprise. Triumphantly, the Save Up Program ended the fiscal year with our largest cohort since the worldwide Covid-19 pandemic, with a vibrant class of 16 enthusiastic participants.
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SU Vision Boards
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