Family Savings Account (FSA)
The purpose of the Family Savings Account (FSA) is to assist low-income families or individuals in Pennsylvania to become financially independent by helping them to acquire a long lasting and life changing asset.
- Purchase of a home
- Postsecondary education
- Funding a business startup
Participants may receive up to $2,000 in matching funds.
Service Providers: Nonprofit private and public organizations.
Participants (Savers): An individual or family who resides in this commonwealth and:
- Is Temporary Assistance for Needy Families (TANF) eligible or
- Meets the following requirements:
- Total household adjusted gross income for the twelve months immediately preceding the date of application is not more than 200% of the Federal poverty standard;
- Or is eligible for the Earned Income Tax Credit (EITC);
- And whose household net worth does not exceed $10,000.
How to Apply
Participants (Savers): Contact the FSA Grantee Agency in your area. This listing will be available pending awarding of grants.
Sub Grantee: Please view the Family Savings Account Request For Proposal for further instructions on how to apply.
Enrolled savers are required to save at least $10 per week/average of $40 per month and save for a minimum of 6 months.