WASHINGTON – U.S. Representative Mike Ross along with U.S. Senators Blanche Lincoln and Mark Pryor and U.S Representative Marion Berry have announced that the Southern Good Faith Fund will receive a $176,471 grant from the Department of Health and Human Services for its asset building program.
With offices in Arkadelphia, Pine Bluff and Helena-West Helena, the Southern Good Faith Fund will use the funds for its Individuals Development Accounts (IDAs) which are matched savings accounts that help income-qualified families buy their first home, pay for post-secondary education or job training, or start or expand their own business.
“These funds will help low income, working families build personal assets through savings and investments as they work to take charge of their economic futures,” said Ross. “I am pleased to see these federal investments make their way to communities like Pine Bluff through worthwhile and hardworking organizations like Southern Good Faith Fund as we work to help struggling families recover during these tough economic times.”
“Every Arkansan deserves access to resources that can help build a successful future. These funds will allow families to purchase a home, go back to school, or open a business. I remain committed to ensuring our state receives the support it needs to help residents provide for themselves and their families,” said Lincoln.
“By teaching individuals how to save for investments, the Southern Good Faith Fund provides low-income earners with skills and tools to earn financial freedom,” said Berry. “This funding will help low-income working families in the Delta become more financially self sufficient and overcome the obstacles of poverty.”
The Southern Good Faith Fund uses their Individual Development Accounts (IDAs) as matched-savings accounts to focus on the long-term benefits of building assets to lift families and communities out of poverty. The organization also provides financial education, counseling services, and Volunteer Income Tax Assistance sites to people with an opportunity to learn new skills and receive qualified advice and support.