What is FSS?
The Family Self Sufficiency Program is a voluntary program open to all current HCV (Section 8) Participants. This program is a five-year program for those who have an interest in maintaining employment and achieving goals. Participation in the FSS Program provides benefits including referral services, training opportunities, and a savings account using no personal money!
How does the program work?
Every participant will work together with a FSS Coordinator to set goals and develop action plans to achieve the goals listed in their 5 year plan. Goals are centered around: Homeownership, Transportation, Education, Employment, Credit Counseling, and more!
Participants will sign a Contract of Participation that lists the developed goals and the approximate dates of completion for each goal listed, start and end date of contract, and additional information regarding the FSS Program.
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Click here to view the Family Self-Sufficiency Program Presentation |
Escrow (Savings) Account
Each FSS participant has an opportunity to establish an Escrow Savings Account.
How it works: As the families’ earned income increases; HUD will match the increase and deposit it into a savings account managed by the HRA.
For Example: If your rent goes up $50 a month due to income from a new job, the HRA will deposit $50 per month into an escrow savings account.
FSS Participants may withdraw funds if needed from their escrow savings account annually if they are in good standing, and the money is used to help them achieve goals they have set. The total balance of their escrow account is paid out upon graduation of the program!
How do I Graduate?
FSS participants must achieve all goals in the Contract of Participation to graduate from the FSS Program. Participants will have access to the total amount of their escrow savings account balance at the time of graduation.
Past graduates of the FSS Program have earned thousands of dollars in savings and used the money for a down payment on a home, to purchase a vehicle, to start a business, and more!
More Information?
Please contact Kaylie Svir at 507-345-1977 x 6 or Kaylie@scmmchra.org for more information and applications for the FSS Program. |
