GRAND RAPIDS, Mich. — The Grand Rapids Housing Commission (GRHC) recently launched the Moving to Work Program. The goal of the program is to help families build savings.
As part of the program, each household will receive a new savings account. Kids in the home who are between the ages of 13-18 will also be able to open a parallel youth savings account as well.
The GRHC will then make a monthly $50 deposit into the adult account. $25 will be deposited monthly into the child’s account. Adults will be able to match $1,000 a year for two years, while kids can match up to $500.
So far, the program has seen pledges of $85,000 to 40 participating families.
“What we’ve discovered is a lot of our families don’t have an opportunity to build savings accounts,” said GRHC Executive Director Lindsey Reames. “So, we wanted to take this opportunity to help them build those savings accounts and to measure the impact that, that savings account has on their ability to stay stably housed.”
More information on the Moving to Work Program can be found on the Grand Rapids Housing Commission’s website.
