Ever dream of owning your own home or furthering your education, but feel you don’t have enough money? Central Pennsylvania Community Action (CPCA) has a program that could help you reach your dreams.
Assets for Independence (AFI) is an asset building savings program offered courtesy of a donation from Northwest Savings Bank of Clearfield and a matching grant from the Administration of Children and Families, Office of Community Services. This program is designed to assist low to moderate income families who fall under 200 percent of the Federal Poverty Guideline save for their goal of homeownership or continuing education.
AFI is a dollar-for-dollar matching savings account to build assets and is available for either first-time homeowners or for those continuing their education. Limited savings plans are available, ranging from $1,000 to $2,000. To receive the match for the savings account, participants must designate the goal for which they are saving toward, demonstrate a regular savings habit for a 24-month period, reach the target dollar amount in which they intended to meet and attend four informational classes on financial education and information specific to their chosen goal.
This program is available to the residents of Centre and Clearfield counties and accounts are currently being opened. To assist residents that may be interested in the program, an informational meeting will be held at 6 p.m. Wednesday, Nov. 14 at the CPCA office at 214 E. Cherry St. This meeting will discuss the details of the program and answer any questions.
“Currently there aren’t any other savings accounts that are paying a 100 percent interest rate. Getting $1 for every $1 you save is an excellent opportunity for residents to save for the home they have always dreamed of or to have money for continuing education,” said Tia Lansberry, CPCA planning supervisor.
“Families with a high school student are encouraged to apply. With a two-year savings plan, the money will be available for college when their child graduates high school.”
Last year, the CPCA served more than 16,000 unduplicated individuals through its vast array of services. CPCA’s primary services includes housing services, weatherization, rental housing, case management, food services, heating and utility assistance, employment assistance and training, consumer information and referral and transportation services. CPCA’s mission is “strengthening communities by helping families and individuals in Centre and Clearfield counties to become self-sufficient”.
For more information on the Assets for Independence Program or any of CPCA’s programs, please call CPCA at 814-765-1551 or 800-822-2610.