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FAIM: Family Assets For Independence In Minnesota

About the Program

FAIM is a matched savings project that assists Minnesota low-wage workers at or below 200% of the federal poverty guideline to build assets. Participants save earned income each month that is matched at a 3:1 ratio by the public and private sector. The funds can be used to purchase a home, pursue a higher education or begin or enhance a small business.

FAIM is provided locally by West Central Minnesota Communities Action, Inc., serving the five (5) counties of Douglas, Grant, Pope, Stevens and Traverse.

Eligibility

FAIM participants must: 

  • Be at least 18 years of age
  • Be a Minnesota resident while enrolled in FAIM
  • Be a US citizen or eligible noncitizen
  • Have earned income to deposit in savings monthly
  • Have a household gross annual income below 200% of the poverty guideline (see table)
  • Have net assets under $10,000

Poverty Guidelines

How to Apply

Please request an application by contacting WCMCA.. 

For more information on the Minnesota FAIM Program or to find a FAIM coach available in your service area:  Minnesota FAIM Program.

More Information

Sue Thoennes

Email: suet@wcmca.org

Phone: 218-685-7071

Toll Free Phone: 800-492-4805

Fax Number: 218-685-6741

Mailing Address:

WCMCA, Inc. FAIM
411 Industrial Park Blvd.
Elbow Lake, MN 56531

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