United Way awards $77K for financial literacy

·1 min read

Aug. 29—The United Way of the Wabash Valley's Financial Management Council is awarding $77,000 to two organizations to implement financial literacy education for employees at their work.

Grants are going to Reach Services and Child-Adult Resource Services.

With $52,000, Reach Services is partnering with Great Dane of Terre Haute to implement a new Money Matters program for employees. Topics will include building and balancing a budget, understanding credit and borrowing money, how to increase their credit score, saving and investing money, home ownership, and savings for retirement.

Also, Reach Services is partnering with The Hometown Savings Bank to offer a mentoring group once a month. Reach will be offering participants a $200 incentive for completing a course and a $200 incentive for completing mentoring to help them create an emergency fund.

Child-Adult Resource Services was awarded $25,000 and is planning to partner with SmartDollar and First Financial Bank to provide financial literacy training for employees.

The SmartDollar program will teach individuals how to create and follow a budget, get out of debt, save for the future, and retire with confidence. There are a variety of goals for the program including save $1,000 for an emergency fund, pay off all consumer debt or have three to six months in emergency fund savings. The program also offers opportunities for monthly group coaching and one-to-one coaching and will provide incentives for participation.

Community members interested in getting more involved in the work of the United Way's Financial Management Council can contact Mark Johnson at 812-235-6287 or mjohnson@uwwv.org.