FED’s newest Federal Policy From the Field, “Compass Working Capital Partners with Housing Authorities to Help Low-Income Families Build Wealth,” highlights CHA and Compass Working Capital’s innovative collaboration and chronicles the steps Compass has taken to improve the financial footing for CHA’s FSS participants.
CHA’s Family Stability and Savings (FSS) program is a voluntary five-year asset-building program managed in partnership with COMPASS Community Capital.
CHA uses it’s MTW flexibility to modify the conventional FSS program, helping families through asset building. As families transition away from reliance on subsidized housing, the FSS program supports them in acheiving goals, focused on areas such as education, credit repair, homeownership and investment in child savings accounts. In 2014 CHA, in collaboration with COMPASS Working Capital received a planning grant to evaluate expansion of the current FSS+ program to automatically enroll all CHA HCV participants and Public Housing residents
About Compass Working Capital: Compass is a nonprofit financial services organization that provides incentive-based savings and financial coaching programs that empower working, low-income families to build assets, achieve their financial goals, and become financially secure. Compass promotes economic mobility and financial security for working poor families by influencing field-related practice and policy.
For more information about CHA’s FSS Program, contact:
John Lindamood email@example.com, or Amanda Giglio firstname.lastname@example.org