DCYF is tracking federal actions that may affect programs serving Minnesota children and families. Get verified facts, current status, and how services continue.
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.