LEBANON, Penn. – Credit unions in Lebanon County are participating in Pennsylvania’s Family Savings Account program (FSA), which is aimed at serving the underserved.
Credit union representatives were part of a presentation here that described how private enterprise and the Commonwealth of Pennsylvania can work together to help underserved consumers.
According to the Pennsylvania CU Association, 39 underserved consumers will benefit initially from FSA. Through this program, the Commonwealth of Pennsylvania provides money to community-based, nonprofit organizations to help individuals and families set up accounts and offers a match of up to $2,000 over two years. FSAs can be used to buy a home, repair a home, purchase an auto, pay for education, daycare, and train for or start up a business.
The Pennsylvania Credit Union Foundation has made a grant of $36,000 to the program.
