The Family Development Program strives to assist individuals to become self-supporting. The main emphasis of Prairie Five’s Family Development Program is presently advocacy/listening and referrals and budgeting.
FAIM (Family Assets for Independence in Minnesota)
Also known as Individual Development Accounts (IDAs) This program helps Minnesota low-wage earners build assets through home purchase, secondary education (for the applicant or an eligible child) or starting a small business.
Account holders save funds, up to $480 per year, which is matched at a 3:1 rate for two years. Account holders must complete financial management classes and specific asset building classes in order to receive match funds.
Must have incomes below 200% of the poverty guidelines in order to qualify for enrollment in the FAIM program.
Funds are limited to the number an agency agrees to administer.