WWBIC Partnership Improves Financial Outcomes for HACM Residents
On November 16, the Wisconsin Women's Business Initiative Corporation (WWBIC) and HACM welcomed the most recent participants of the Make Your Money Talk program to celebrate their completion of financial education course. Nearly 150 HACM residents have completed the program since June 2018 - one of the largest classes since the partnership began in 2004.
Graduates gain knowledge in budgeting, credit management, and smart savings strategies. They also have the option to open an Individual Development Account (IDA), which matches their earned income savings four to one to be put towards the purchase of a house, paying for school, starting a business, paying off debt, or purchasing a vehicle.
Over 2,300 individuals have graduated from the program since its inception and more than 1,000 have opened match accounts with purchasing power surpassing $5,000,000. To date, the cumulative assets acquired include:
- 147 HACM residents purchased their first home
- 81 HACM residents invested in their post-secondary education
- 67 HACM residents created or developed a small business.
- 22 HACM residents paid down or off debt
- 18 HACM residents purchased a vehicle or related vehicle expenses
For more information about the Make Your Money Talk program and other self-sufficiency programs available to HACM residents, please visit theFinancial Education & Asset Building section of our website.