WESTERLY – The Washington Trust Charitable Foundation has awarded $20,000 to the West Elmwood Housing Development Corp. to support the Match Savings Incentive Program and the Get Your House In Order Program, The Washington Trust Co. announced.
The grant is part of more than $584,000 of total giving granted by the foundation to over 60 organizations throughout the bank’s footprint through May 31, with $122,000 directed to support safe and affordable housing and homeownership programs.
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The match savings program is designed to assist individuals with low to moderate income on their path toward asset ownership through a financial empowerment course, according to a news release. Program participants engage in Financial Capability Workshops to review topics that include budgeting and savings; debt management; credit building; and the homebuying process.
Washington Trust awarded the program a $15,000 grant over the 2022-2023 period.
“Washington Trust is committed to helping our community members build a strong financial foundation on their path to homeownership and self-sufficiency,” said Rolando Lora, Washington Trust executive vice president, chief retail lending officer and director of community lending. “We are thrilled to continue to support West Elmwood Housing Development’s mission to promote the development of healthy, sustainable communities through housing services in Providence.”
The Get Your House In Order Program is a nationwide program for culturally specific financial education for African Americans that delivers a four-week financial literacy course to review topics, including generational and psychological relationships with money; budgeting and savings strategies; investing; credit; identity theft; insurance; and more, according to the release.
“Our mission is to bring opportunities to build a healthy, sustainable West End neighborhood by investing in and embracing resident empowerment to support the enhancement of economic mobility and equity for our community,” said Candace Harper, executive director of West Elmwood Housing Development. “These resources from Washington Trust will assist us with providing access to these excellent programs to support our community members as they work towards meeting their financial goals.”
