Family Economic Security Alliance: Family Asset Building
This cohort explored how to build family assets through Children’s Savings Accounts. CSAs are long-term savings or investment accounts that help children and their families — especially those from low-income families — build savings for the future. To help accounts grow, account holders receive incentives such as initial deposits and savings matches from third parties.
The goal of most CSA programs is to build a college-going identity in children, provide some of the financial means to pursue post-secondary education, and increase enrollment in and completion of postsecondary education.
The community foundations below formed the initial cohort for Building Family Assets as part of the FES Alliance.
The work of the Family Asset Building cohort continued on in the form of the Asset Development Action Alliance, a group of six community foundations that focused exclusively on advancing the adoption and expansion of CSAs.