FAIM Program Information
Monthly FAIM Network Meeting
The FAIM Network Meeting will be held monthly and will consist of program updates and a training topic. Meetings will be held via Teams or Zoom unless otherwise noted. The link to join will be sent to the FAIM group prior to meetings. Staff from each local FAIM agency are expected to attend these meetings.
Grant 2086: Enrollment Closed
Enrollment closed on September 30, 2024. Forms are available in the Program Forms - always use the current forms posted on this site. Complete the pre-enrollment screening and saving affordability calculator tools with those interested to determine potential eligibility AND program readiness before placing them on your wait list.
Grant 2086 Timelines: Minimum enrollment period is 6-months + 1-day from first deposit date. Clients must reach this date AND complete training/asset requirements BEFORE they may contact their coach to request a payout. They must allow the program 21 days to process the request. The saving/match period is 24 months from first deposit date - late deposits are not matched. Maximum enrollment to obtain their chosen asset and exit the program is 30 months from first deposit date.
When screening clients for Home Purchase - keep in mind they must have continuous employment with sustained earned income and a credit score of 650+ to qualify for a mortgage within 24 months of being enrolled in FAIM. If this is not feasible, they should not be enrolled for Home Purchase.
Grant 2005 - at capacity
Timelines: Minimum enrollment period is 6-months + 1-day from first deposit date before a 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.
Grant 2085 - at capacity
Timelines: Minimum enrollment period is 1 year + 1-day from first deposit date before a 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.
Statewide FAIM Program Administration Team
Susan Thoennes, FAIM Administrator suet@wcmca.org Direct Line: (320) 391-4229
Paige Carlson, WCMCA Aging Well & Asset Development Director paigec@wcmca.org
David Snyder, FAIM Director davids@wcmca.org
Grant Administrator - West Central MN Communities Action, Inc. (WCMCA)
411 Industrial Park Blvd, Elbow Lake, MN 56531 (218) 685-4486 or 800-492-4805
1910 Aga Drive, Suite 206, Alexandria, MN 56308 (320) 304-3458
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.
If the holiday falls on Saturday, the agency will be closed Friday. If the holiday falls on Sunday, the agency will be closed Monday.
2022 Midwest Asset Building Conference
"Imagining the Next Economy: Disrupting the Racial Wealth Divide" was held at the Saint Paul RiverCentre June 29-30, 2022. 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 to be held in 2024/2025.