Genesis Center announced
today that it has launched Keys To Success, a new matched savings
program for low and moderate income Rhode Island residents, with Pawtucket
Credit Union and the Rhode Island Foundation. Keys to Success allows participants to set a savings goal
between $500 and $2,000 and make regular deposits into a special savings
account with Pawtucket Credit Union in order to work toward the purchase of a
reliable vehicle. When the savings goal is reached, a participant’s
savings deposits will be matched dollar-for-dollar so that they can complete an
approved vehicle purchase.
In order to qualify,
prospective Keys to Success participants must meet income
guidelines and other criteria. In addition, all participants must
take part in personal financial coaching sessions and attend trainings specific
to vehicle purchase and vehicle ownership.
“Eliminating barriers to
reliable transportation can make a difference in a family’s economic stability.
We’re pleased to partner with Genesis Center on the launch of the Keys to Success Program. This program
supports PCU’s community investment philosophy of funding initiatives that
directly impact the lives of Rhode Islanders. ” stated George Charette, PCU
President and Chief Executive Officer.
“Too many Rhode
Islanders have no way to get to where the jobs are. Providing a path to
purchasing a reliable car is an innovative solution to one of the major
barriers to employment,” said Carmen Diaz-Jusino, the Foundation’s strategic
program officer for economic security.
Genesis Center, founded
35 years ago in Providence's West End, is a multi-service organization offering
high-quality adult education, job training, support services, and early
learning for low-income Rhode Islanders who want to make a better life for
themselves and their families. Today, it serves more than 800 adults and
children every year from more than 35 countries.
“As a workforce
development agency, we know that access to reliable transportation is one of
the largest barriers to obtaining employment and professional advancement.
The Keys to Success program will help motivated people to save
money for their future while improving financial confidence and financial
capability,” said Shannon Carroll, Genesis Center President and CEO
For more information
about Keys To Success, including
detailed eligibility information, call Christopher Ackley, Genesis
Center Financial Opportunity Center Manager at (401) 781-6110 x29. For
more information about Genesis Center visit www.gencenter.org