Financial Assistance and Grants

LifeBridge Assistance Program

The LifeBridge Assistance Program is a partnership between LifeBridge and local congregations and non-profit organizations to first provide emergency assistance with rent and/or utilities and then offer long-term support through coaching, education, and additional assistance programs. If a participant who has received assistance attends a follow-up coaching session, the client will receive $50 in cash from LifeBridge with the purpose of storing this cash into their personal emergency savings account or starting one. If the financial coach can verify that they have maintained the $50 in their emergency savings account over the course of 3 coaching sessions LifeBridge will match the $50 for a total of $100 to be deposited into their personal emergency savings account.

Emergency Match Savings Accounts

Emergency Matched Savings Accounts enable our participants to have a $400 emergency savings account to be available for withdrawal in the event of an unexpected crisis. As little as $400 can provide resiliency to a family in the face of a crisis. The ability to save and quickly access funds during an emergency is one of the primary predictors of financial stability and economic mobility. Participants have up to 6 month to save $200 in order to receive an additional $200 from the program. Our program provides 1:1 match to participants who complete required coaching sessions and six hours of financial education.

Debt Reduction Match Savings Accounts

Debt Reduction Matched Savings accounts is a program that will help pay debts of collections, charge offs, or predatory loans. Debt can prevent credit building. Paying off such debts can help individuals purchase larger assets and improve their credit score. Each participant creates a debt management plan and a credit action plan. This program provides a 2:1 match on debt reduction savings, for up to $4500 total savings, to participants who complete program requirements (individual coaching sessions, 15 hours of financial education classes, and open a debt reduction savings account.)

Individual Development Accounts

An Individual Development Account (IDA) is a matched savings account that helps low-to-moderate income families learn how to save, set goals and build a stronger financial future through financial education and individual budget and credit counseling. Savings are matched 2:1 and can be used to purchase a first home, pursue post-secondary education, start a small business, purchase a vehicle for personal or business use, or complete home repairs. This program provides a 2:1 match savings, for up to $4000, to participants who complete program requirements (individual coaching sessions, 15 hours of financial education classes, and open an IDA savings account.)