News and analysis
March 24, 2013

Innovative Nonprofit Programs Help Low-Income People Build Their Savings

Creative new efforts are drawing grant-making support but are seeking ways to vastly expand reach

sara peet photography

Mission Asset Fund is formalizing “lending circles,” long used by immigrants, to help participants take control of their finances and build a credit history.

Ashana Ward has made a lot of changes lately. The Head Start teacher has crafted a budget, cut back on spending, and is looking for a better paying job. The changes are all in service to a big goal: to buy her own home.

She’s enlisted her two…

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