Family Assets for Independence in Minnesota

Family Assets for Independence in Minnesota (FAIM) is a matched savings program designed to help low-income working Minnesotans escape poverty and build financial security.  Participants save their wages toward specific life-enhancing goals, such as purchasing a first home, pursuing higher education, starting or expanding a small business, or buying a personal vehicle. In 2024, FAIM introduced two pilot tracks:  saving for a young child’s future education through a 529 college savings plan and a limited emergency savings. By matching participant savings and providing financial and asset-related training, FAIM provides the tools and resources to create lasting wealth and independence.