For families living in poverty, it can feel like the odds are stacked against you.
You want to get ahead, but you’re one emergency from falling behind – a car that won’t start, an unexpected hospital bill, or losing a job. And often times you want to get ahead, but public welfare programs make it difficult to increase your income or save money – making you feel entrapped in poverty rather than creating a pathway out.
At Compass Working Capital, we have learned that low-income families are able to get ahead when they have the chance to build savings and assets. Assets are how we get ahead in this country: buying a home; investing in an education to get a better-paying job, or saving so our children can; starting a business, or saving for emergencies.
To build savings and assets, you need a few things: financial capabilities, strong financial guidance, and access to high-quality financial products and services. All things that are out of reach for most low-income families.
Compass is changing that. Through our programs, we are putting the tools to build assets and financial capabilities into the hands of low-income families and empowering the families we serve to build a pathway out of poverty.