Missouri Asset Development Project

Missouri Asset Development Project, which is a program of Missouri’s Community Action Network, encourages families to establish good savings habits, gain stability and break the cycle of poverty. The program helps qualified working individuals set up savings accounts to reach specific goals: purchasing a home, enrolling in advanced education, or starting a business.

Through a participating local Community Action Agency, each participant sets up a savings account and makes regular deposits from their earnings. The money they save is matched 2:1 with other funds, up to a $2,000 limit. Participants attend financial education workshops on budgeting, goal-setting, consumer awareness and energy conservation. They learn to manage and maximize resources to achieve their savings goals and become financially independent, active residents of the local economy.

Applicants are carefully screened to ensure likelihood of success. Matched contributions are maintained by MACA and are paid directly to the vendor (mortgage lender or college) upon a participant’s successful completion of the program.

Missouri Asset Development Project uses a combination of local, state, federal and private funds to match each participant’s savings. Private contributions are encouraged from banks, businesses and individuals. Donations can be directed to specific communities at the donor’s request.

To learn more about the program, click here or call (573) 634-2969 ext. 25.  For information about the Assets for Independence Grant click here.