FARMERSBURG, Ind. (WTWO/WAWV)— The United Way of Wabash Valley is looking for a group to pitch them ideas for a program to help adults in their six counties with financial literacy.
The UWWV will be awarding a maximum of $30,000 to a non-profit, faith or community based organization, educational institution, financial institution, or unit of local government that can pitch them an idea to get members of the Wabash valley into the door. The UWWV is wanting ideas for programs and services that will help foster financial literacy, understand and properly apply financial management skills, and a group that can coordinate, manage, and monitor these programs and facilitate attendance and participation of what they call the ALICE population.
They define the ALICE population as asset limited, income constrained, employed residents. Approximately 33,000 households in the service area of UWWV fall into this category and hope an initiative like this can help break the cycle of generational poverty.
The Board of Governors for the Federal Reserve released a report that found that more than one-fourth of adults were either unable to pay their bills month to month or a $400 setback away from being unable to pay them in full.
The Wabash Valley they believe is specifically in need of this due to the 2023 Hoosiers by the numbers report that shows the region ranked as the lowest per capita income in the state. This statistic combined with a high percentage of households on welfare and using free and reduced lunch programs has spurred the initiative.
Ashley Wadsworth, Financial Management Council Co-Chair, stated “The Financial Management Council is seeking proposals as unique and impactful as the previously funded Home Down Payment Assistance Program. We can’t wait to see the proposals that will help achieve Financial Freedom for All in the
Wabash Valley.” For the full list of requirements and application details visit this link.
