The Family Assets for Independence in Minnesota (FAIM) program is a matched savings project designed to help Minnesota resident low-wage earners build assets within the state through:

  • purchase of a first home

  • pursuit of higher education

  • launch of a small business

  • purchase of a personal vehicle

Participants are required to work with their local FAIM coach to:

  • establish, repair and/or build credit and reduce debt during enrollment

  • complete 12 hours of Financial Literacy training

  • complete an additional 10 hours of asset-specific training

before becoming eligible for a matched payout from the program.  Funds are paid directly to a vendor, not the participant.  Savings and spending timelines are established in a Contract Agreement which is completed with a FAIM coach along with other forms.