Financial Literacy

Success of Savings Program

Saving up for a special vacation or to buy that personal computer you’ve been eyeing up at the store is a big part of living.  It’s also a fun part of life. We help students and adults with special needs learn how to manage their money so they too can save up for that important purchase and achieve their financial goals.

Many of the people Allies supports have never been inside a bank before joining the Success of Saving (SOS) program.  SOS is a pioneering financial literacy program that teaches people with special needs how to budget and save their earned income through a combination of interactive coursework, trips to local banks, and supported banking.  Participants in the program develop a savings plan with a savings goal and open savings accounts.

During the course of the program, these savers agree to deposit a set amount of money from each paycheck into their savings account.  As an incentive, they receive dollar-for-dollar matches for attending all the required financial literacy courses.   People enrolled in the program have the opportunity to double their money, getting them closer to their savings goal, while learning how to develop and adhere to a budget, balance a checkbook, and use credit and basic banking services. Not a bad deal.

To learn more about our Success of Savings Program, please contact Krystal Odell.

Home Ownership

Project American Dream

Project American Dream (PAD) gives Allies participants the chance to make their homes really their own – it is primarily a homeownership program for people with special needs who are first time homebuyers.  Through the PAD program, Allies participants can open Individual Development Accounts which are matched savings accounts that can be used for purchasing a first home, financing an education or starting a microenterprise business.  Participants can save as much as $2,000 of their own money and receive $4,000 in matching funds from Federal and private grants for a total of $6,000 to use for their savings goal.  Allies employees also benefit from the program, as a section of PAD funding is dedicated to Allies staff.

To learn more about saving opportunities through Project American Dream, please contact Krystal Odell.