Centraide grants $77,000 for financial literacy | Local News

The United Way of the Wabash Valley Financial Management Board is awarding $77,000 to two organizations to implement financial literacy training for employees in their jobs.

Grants go to Reach Services and Child-Adult Resource Services.

With $52,000, Reach Services is partnering with Great Dane of Terre Haute to implement a new Money Matters program for employees. Topics will include building and balancing a budget, understanding credit and borrowing money, how to increase their credit score, saving and investing money, home ownership and savings for retirement.

Additionally, Reach Services partners with The Hometown Savings Bank to offer a mentoring group once a month. Reach will offer participants a $200 incentive for taking a course and a $200 incentive for taking a mentorship to help them create an emergency fund.

Child-Adult Resource Services received $25,000 and plans to partner with SmartDollar and First Financial Bank to provide financial literacy training to employees.

The SmartDollar program will teach individuals how to create and follow a budget, get out of debt, save for the future and retire with confidence. There are a variety of goals for the program, including saving $1,000 for an emergency fund, paying off all consumer debt, or having three to six months of savings in an emergency fund. The program also offers opportunities for monthly group coaching and individual coaching and will provide incentives for participation.

Community members interested in becoming more involved in the work of the United Way Financial Management Board can contact Mark Johnson at 812-235-6287 or [email protected]

Geraldine L. Melton