What We Do
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While traditional anti-poverty strategies like income supports and social services provide vital safety nets, most low-wage workers remain trapped in poverty that goes deeper than the traditional income-based measurements can show. Unable to accumulate savings or invest in their futures, they are “asset poor” as well as “income poor” – lacking the resources to fall back on if faced with an unexpected illness, a car repair, a divorce. EARN seeks to change this cycle of economic insecurity among low-wage workers and their families by creating, evaluating, and championing opportunities to accumulate, leverage and preserve financial assets.
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EARN is the nation’s leading microsavings program for low-income workers. Our asset building model combines financial education, matched savings accounts, asset-specific investment training, and connections to the financial mainstream. EARN Savers have opened more than 3,000 accounts and deposited over $4 million of their own hard-earned dollars since 2002. We match their savings for investment in life-changing goals such as going to college, purchasing first homes, or starting small businesses.
After EARN Savers reach their goal, we help them keep moving up and achieving their next goals. Our Alumni can enroll in EARN Wealthcare, our unique financial planning and coaching initiative. EARN has a team of six professional financial coaches and is the only nonprofit organization in the U.S. with a full-time financial coach dedicated to serving low-income clients. Wealthcare participants get a 12-month, one-on-one engagement with an expert coach for the individualized support they need to develop sound money management habits and maintain their upward financial trajectory. We also provide training to other nonprofits that want to incorporate coaching into their services for low-income families.
