Family Assets for Independence in Minnesota (FAIM) is a matched savings project to help MN low-wage earners build assets through: purchase of a home, pursuit of higher education or the launching/expansion of a small business. FAIM is part of a national initiative to promote Individual Development Accounts (IDAs). It targets the working poor, provide subsidies through matches rather than through tax breaks and requires account holders to attend financial literacy classes. FAIM helps people change spending & saving behavior and cover topics such as debt management, credit reports etc. FAIM strives to break generational poverty through asset acquisition.

FAIM collaborates with multiple partners statewide: Office of Economic Opportunity, MN Dept. of Human Services, Bremer Bank, McKnight Foundation, Twin Cities City County Federal Credit Union, Office of Community Services, US Dept. of Health & Human Services, MN Community Action Agencies, Women Venture, Mille Lacs Band of Ojibwe, Leech Lake Band of Ojibwe, Northland, Northwest MN & Southwest MN Foundations, United Way and Wells Fargo.

Locally FAIM collaborates with MNSCU and their offices of Financial Aid, with the University of MN Extension services as they provide our required "Home Stretch" classes, USDA Rural Development, MN Work Force Centers, US Dept. of Labor's Experience Works Senior Comm. Service Employment program, SCORE, and our passionate community leaders in the following MN counties: Grant, Douglas, Pope, Stevens and Traverse .

FAIM is seeking funding to help sustain our local rural initiative.