Congrats to REACH’s Leadership and Economic Empowerment Program Graduates
Hi, my name is Carrie and I am REACH’s Economic Empowerment Coordinator for adults living at REACH. Throughout the year I get to meet with residents and assist them in their efforts towards more financial stability through REACH’s financial education programs. These programs are about learning and achieving goals like strengthening personal and community leadership skills, preparing for employment, increasing financial health, and saving to attain long-term assets like a college degree, small business, or home. The programs are open to all residents in our buildings and are facilitated by REACH staff, like me.
I have the privilege of working with residents participating in our matched-savings accounts program, called Individual Development Accounts, in collaboration with CASA of Oregon and Neighborhood Partnerships. I assist participants with creating a savings plan and start making monthly deposits towards their savings goal. Participants in this program can spend up to three years saving towards one of four goals: buying a home, going to college, starting a small business, or purchasing technology, purchasing assets to achieve their employment goals.
Resident participants commit much of their personal time by attending workshops and coaching sessions, completing assignments, and attending and helping to plan volunteer activities. Everyone also completes REACH’s Budget, Buy, and Save financial education program as well as other training specific to their savings goal, like Homeownership 101 workshops at the Portland Housing Center, or small business development training at PSU’s business outreach program. Every dollar participants’ save is matched with $3.00. That means, over a three-year period, participants can be matched up to $9,000!
The best part of my job is seeing our residents succeed in their goals. What once might have seemed like an impossible feat, has become a reality. It is an incredible honor to witness that moment when a family is able to buy their first home or supplies needed to further their business goals. I am inspired daily by the hard work, dedication and sacrifice made by residents to get to a more comfortable place in their finances and professional development.
The end goal of asset attainment is just part of the journey. Along the way our resident participants learn how to manage their budgets, develop a savings habit and grow their confidence in money management. The benefits go well beyond asset attainment. It provides skills that can increase economic stability, housing security and access to employment opportunities.
I am so grateful for the opportunity to support our residents moving closer to their dreams and to our volunteers, donors, and partners who help make it possible.
