Compass has spent over a decade developing and refining our approach to asset building programs for families with low incomes.
We got our start in offering matched savings accounts, often referred to as individual development accounts (IDAs) – the cornerstone of the asset-building field when Compass was founded. As we developed our expertise, we began to seek out opportunities to bring that expertise to a broader share of families with low incomes. In 2010 we identified the Family Self-Sufficiency (FSS) Program, offered to residents of federally-subsidized housing in communities across the country, as a broad, scalable market to which we could apply our core competencies.
In 2010, Compass became the first nonprofit organization in the country to launch an asset-building, public-private partnership model for the Family Self-Sufficiency (FSS) program, a historically underutilized federal housing program overseen by the U.S. Department of Housing and Urban Development (HUD).
Compass partners with local organizations to integrate financial coaching and savings opportunities into other housing, educational, and workforce development programs that supportlow-income families to build a pathway out of poverty.