The Family Assets for Independence in Minnesota (FAIM) program is a matched savings project to help Minnesota low-wage earners build assets through;
purchase of a home
pursuit of a higher education
or launching of a small business.
This is accomplished by FAIM participants placing up to $40 monthly savings from their earned income into Family Asset Accounts (savings accounts) which will be matched 3-1 upon completion of asset contracts. FAIM Brochure: FAIM Brochure
Funded in part by: Office of Community Services; US Department of Health & Human Services, Office of Economic Opportunity; Minnesota Department of Human Services, McKnight Foundation, and the Greater Twin Cities United Way.
Family Assets for Independence in Minnesota (FAIM) which are Individual Development Accounts (IDAs) enable people to escape poverty and achieve wealth through asset acquisition
FAIM is Coordinated at the statewide level by:
West Central Minnesota Communities Action, Inc.
411 Industrial Park Boulevard
Elbow Lake, MN 56531
(218) 685-4486 or
MN Statewide FAIM Director