By Karen Madlock | Save Up Program Coordinator
Dear Friends,
The Save Up program has helped many low-income families in our community to do incredible things with their meager earnings. I would like to share with you one of our success stories, that involves a hardworking mother, Ms. Tee:
Ms. Tee, a divorced mother of four sons ages 14-19, saw a lifelong dream come to fruition when she closed on a home of her own.
A Department Tech for a local nonprofit, which serves people with disabilities, Ms. Tee spends her workdays shuttling clients to and from doctors’ appointments. Although Ms. Tee always dreamed of becoming a homeowner, she never believed homeownership was within her reach – that is, until she heard about RISE through a coworker.
Ms. Tee enrolled in the Save Up Program, which teaches participants how to create a budget based on their personal income and expenses, and how to obtain and improve their credit scores and credit reports. The Save Up Program also helps participants establish bank accounts and purchase assets.
RISE then helps participants obtain asset-specific training as needed, at no cost to the participant. For example, those saving for homeownership will need to complete homebuyer education classes. Finally, RISE will help Save Up participants purchase the asset for which they’ve saved. Assets include homes, cars, computers, post-secondary classes and small businesses.
“Being in the Save Up Program was a faith builder,” said Ms. Tee, who moved her family into their new home this past December. “Now I feel that I can accomplish anything. RISE is a symbol of me having faith in myself. Learning how to budget and save has helped me to purchase a home. My next goal is to save for my children’s college education.”
With your help and support, the RISE Save Up program can help create even more successfull stories like Ms. Tee's. We currently have a waiting list and with more support, can help more low-income working families to make better choices that benefit their families. .
We are counting on you!
Karen Madlock, RISE Save Up Program Coordinator
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