Having the savings to handle unexpected financial setbacks, like a lost job or a broken car, is essential for achieving family economic security. Family assets like savings accounts and investments can help people plan for the future and engage in opportunities that create a better future, such as acquiring a home, paying for a college education or investing in a business.
CFLeads has been exploring the opportunities to build family assets through its Family Economic Security Action Alliance, which had community foundation cohorts that focused on Family Asset Building and Community Wealth Building.
The Family Asset Building cohort identified Children’s Savings Accounts as a promising way to build family assets and one that community foundations can play a role in. The initial cohort grew to form the Asset Development Action Alliance. Learn more about the ADAA by visiting the page below.
CFLeads continues to explore how community foundations can support the creation and expansion of Children’s Savings Accounts. Stay tuned for more information on this topic in 2020.