2022 Midwest Asset Building 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 2024. If you registered for the conference, you should have access to the Whova app – session videos are available to view for a limited time.

FAIM Program Information

State Grant 2005 enrollment reopened 2/1/2023 to the statewide network for 25 slots.

• Screen clients for program readiness BEFORE doing an application with them! They must have the ability to save up to $2,000 AND purchase their chosen asset (Home, Education, Business, Vehicle) within 30 months. If not program ready, place them on your wait list for a future grant and give them things to improve on. Applications must be current within 30 days. Slots will be filled first come, first served by complete application packets submitted to FAIM Admin for final approval. Submitting an incomplete application packet will not hold a spot for the client.
• Coaching dollars in the amount of $1,300 available to agencies for new enrollments that complete the required 12 hours of Financial Management training – course plus 1:1 financial coaching with review of credit report, creating a budget, and establishing/repairing/building credit. Submit training completion certificate to FAIM Admin. Coaching dollars will be paid out quarterly.

• 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.

• 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 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.

State Grant 2085 is at capacity.

• 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 clients 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.

Statewide FAIM Program Administrator

411 Industrial Park Blvd, Elbow Lake, MN  56531   (218) 685-44861910 Aga Drive, Suite 206, Alexandria, MN  56308   (320) 304-3458

Office Hours:

Holiday Closures: 

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.