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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 Information

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

Application Details

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

Megan Radermacher, Affordable Housing Administrative Assistant

  • 320-304-3458, ext. 7217
  • 800-492-4805
  • Fax: 320-335-2463
  • FAIM
    WCMCA, Inc.
    1910 Aga Drive, Suite 206
    Alexandria MN 56308

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