2022 Midwest Asset Building Conference
Regi0nal conference “Imagining the Next Economy: Disrupting the Racial Wealth Divide” will be held at the Saint Paul RiverCentre June 29-30, 2022. Previous conferences were hosted in Indianapolis in 2017 and Detroit in 2019. Featured speakers include Chloe B. McKenzie and Saint Paul Mayor Melvin Carter.
Early bird registration is open until May 20th – sign up now to save $50. In-person and virtual options are available for attendees. Several scholarships are available to attend the conference – click on the “SCHOLARSHIPS” tab on the conference website and submit a request to be considered. More information about the conference, Covid-19 protocols, and registration link are available at https://www.midwestassetbuilding.org.
For FAIM coaches/staff that are attending the conference in person, we will try to connect and network at some point during the conference. Email firstname.lastname@example.org if you have registered for the asset building conference. I hope to see you there!
FAIM Program Information
Federal Grant 0953 Closing April 2022
- Please give priority to Grant 0953 clients to complete trainings and asset requirements so they may spend out and exit before the grant closes in April 2022.
- Not sure which grant your client is enrolled in? Look at the “Intended Use” field on the FAIM account statement you pull each month – if there isn’t a 4-digit number listed after the asset, the client is enrolled in Grant 0953.
- Coaches must submit paperwork for final payout requests to FAIM Admin by April 1, 2022, for processing before Grant 0953 is closed.
- ALL clients enrolled in Federal Grant 0953 will be required to exit the program due to the grant ending. If a client is not able to spend before the grant closes, the coach will exit them without a payout. Client savings/interest will be returned by Bremer Bank and the match will be forfeited back to the program.
FAIM State Grant 2083/2005 is at capacity as of 10/22/2021.
- Enrollment is at capacity and applications are no longer being accepted.
- Clients in these grants have 24 months from first deposit date to deposit earned income into their FAIM savings account and earn 3:1 match. Late deposits cannot be matched – no exceptions.
- Clients in these grants have up to 30 months from first deposit date to obtain their asset and exit the program.
State Grant 2085 – FAIM enrollment opens 1/31/2022.
- Please screen potential FAIM clients for eligibility and potential to successfully complete the program before starting the application process. If FAIM is not a good fit, give them things to improve on and have them check back in with you after 3-6 months to review and determine if they are ready for FAIM.
- Use the Application Checklist as reference to be sure you have all forms and documentation needed. Always use current forms from this site – many forms were updated in 2022.
- Previous matched payouts completed for anyone in the household will affect match eligibility of the applicant.
- Submitting an incomplete application packet to FAIM Admin will NOT hold a spot in the program for the client. FAIM coach will be notified of follow up required and the application will go to bottom of the pile. Follow up is to be submitted to FAIM Admin within two weeks of request date. If slots in the program fill, coach will be notified to exit their client.
- Minimum enrollment period for this grant is 1 year + 1-day before full payout may be requested. Saving/match period is 24 months from first deposit. Maximum enrollment is 30 months from first deposit date.
- Coaching dollars will be paid to agencies on a quarterly basis for the first 65 approved enrollments that complete the 12-hour Financial Wellness training. Local coach must submit a copy of the client’s training completion certificate to FAIM Admin to be considered for payment of coaching dollars.
Quarterly FAIM Coach Meeting
A quarterly FAIM Coach meeting is held the last Thursday of January, April, and October. The July meeting will be held a week earlier or later due to staff availability. Meetings will be held via Zoom unless otherwise noted. An email containing the link to join will be sent to the FAIM group before those meeting dates. Minutes from the meetings will be emailed to the FAIM group.
FAIM Admin Staff
Susan Thoennes email@example.com Direct Line: (218) 685-7071
West Central MN Communities Action, Inc. (WCMCA)
Toll free: 800-492-4805
411 Industrial Park Blvd, Elbow Lake, MN 56531 (218) 685-4486
1910 Aga Drive, Suite 206, Alexandria, MN 56308 (320) 304-3458
New Year’s Day, Martin Luther King Jr. Day, President’s Day, Memorial Day, Juneteenth, Independence Day, Labor Day, Veteran’s Day, Thanksgiving Day & next day, Christmas Eve, Christmas Day. If the holiday falls on Saturday, the agency will be closed on Friday. If the holiday falls on Sunday, the agency will be closed on Monday.