Asset Building Program
More than a quarter of Americans are living paycheck to paycheck without savings or investments in equity such as a home or small business. Evidence shows that with training and incentives, even the lowest income Americans can break this cycle, begin saving, and planning for a better future. Asset development:
Promotes financial literacy, savings, and access to mainstream banking.
Promotes use of the Earned Income Tax Credit along with free and reduced tax preparation services.
Provides incentives to invest in appreciable assets for long-term prosperity.
How We Help
- The Asset Building Program offers start-up support and free consultation for asset building activities in communities across Washington. For more information visit the Washington Asset Building Coalition website where you’ll find a list of local coalitions already in place.
Bank On Washington
brings banks, credit unions, government, and community organizations together to provide individuals with access to low-cost checking and savings accounts. The goal is to help people keep more of their money for savings so they can build on their dreams.
The Earned Income Tax Credit
(or EITC) is for people who earn low-to-moderate incomes. EITC can reduce a worker's taxes and result in a refund. This means working families and individuals can keep more of what they earn. After January 30, call 2-1-1 or 1-877-211-9274 and ask for free tax preparation.
Asset Building Coalition Grants: Application Due May 15
The Department of Commerce seeks grant applications for activities to improve the financial health of low- and moderate-income households. Grant funds will serve to initiate, expand, and strengthen community-based Asset Building Coalitions and their services. Multi-county collaborations are encouraged and funded activities must align with the Corporation for Enterprise Development’s Household Financial Security Framework. Funds will be awarded by July 1, 2015, contingent upon final passage and approval of the state 2015-17 operating budget. See "ABC Grant Materials" links on the right.
April 20, 1 p.m. – Bidders teleconference: (360) 407-3780, PIN Code: 129745#
May 15 – Applications due (electronic and hard copy)
May 29 – Grant awards announced
Other Helpful Links