FAIM Networking at 2022 MABC Conference 6/30/2022

2022 Midwest Asset Building Coalition Conference

 “Imagining the Next Economy:  Disrupting the Racial Wealth Divide” held at the Saint Paul RiverCentre June 29-30, 2022, was a success.  Previous conferences were hosted in Indianapolis in 2017 and Detroit in 2019.  This biennial conference was pushed from 2021 to 2022 due to the pandemic, watch for information on the next conference in 2023.

If you registered for the conference, you should have access to the Whova app – session videos will be posted soon.

 

FAIM Program Information


Quarterly FAIM Coach Meeting 
A quarterly FAIM Coach meeting is held the last Thursday of January, April, and October.  The July meeting will be held a week earlier or later due to staff availability.  Meetings will be held via Zoom unless otherwise noted.  An email containing the link to join will be sent to the FAIM group before those meeting dates.  Minutes from the meetings will be emailed to the FAIM group.

Federal Grant 0953 ended on 4/30/2022.  Final reporting to funders will be completed in July.

FAIM State Grant 2083/2005 is at capacity as of 10/22/2021.

  • Enrollment is at capacity and applications are no longer being accepted.  Final coaching dollars were sent to agencies the end of 2021.
  • Timelines:  Minimum enrollment period is 6-months + 1-day from first deposit date before any payout may be requested.  Saving/match period is 24 months from first deposit date – late deposits can’t be matched, no exceptions.  Maximum enrollment to obtain their asset and exit the program is 30 months from first deposit date.

State Grant 2085 is at capacity as of 6/24/2022.

  • Prescreen potential FAIM clients for eligibility and program readiness before adding them to your local wait list.  If FAIM is not a good fit, give the client things to improve on and have them check back in with you after 3-6 months to review.
  • Previous matched payouts completed for anyone in the household will affect match eligibility of the applicant.
  • Applications must be current and complete.  Submitting an incomplete or outdated application packet to FAIM Admin will NOT hold a spot in the program.  
  • Minimum enrollment period for this grant is 1 year + 1-day before full payout may be requested.  Saving/match period is 24 months from first deposit.  Maximum enrollment is 30 months from first deposit date.
  • Coaching dollars will be paid to agencies on a quarterly basis for the first 65 approved enrollments that complete the required 12-hour Financial Wellness training –schedule this early in the client’s enrollment.  Local coach must submit a copy of the client’s training completion certificate to FAIM Admin to be considered for payment of coaching dollars.

FAIM Admin Staff

Susan Thoennes   suet@wcmca.org     Direct Line:  (218) 685-7071

FAIM Grant Administrator – West Central MN Communities Action, Inc. (WCMCA)

411 Industrial Park Blvd, Elbow Lake, MN  56531   (218) 685-4486

1910 Aga Drive, Suite 206, Alexandria, MN  56308   (320) 304-3458

Toll free:  800-492-4805

Office Hours:

Monday-Friday, 8:00am – 4:30pm

Holiday Closures: 

New Year’s Day, Martin Luther King Jr. Day, President’s Day, Memorial Day, Juneteenth, Independence Day, Labor Day, Veteran’s Day, Thanksgiving Day & day after, Christmas Eve, Christmas Day. 

Please note:  If the holiday falls on Saturday, the agency will be closed on Friday.  If the holiday falls on Sunday, the agency will be closed on Monday.