Wyoming Economic Self-Sufficiency Study

In 2015 the Wyoming Women’s Foundation granted money to fund a study focused on economic self-sufficiency in Wyoming. The study examines women’s abilities to support their families and themselves. It also create awareness about ways to better support economic self-sufficiency for Wyoming women and their families. WYWF released several reports and a calculator in 2016 discussing the status of self-sufficiency in Wyoming. The results of this study now helps WYWF make informed decisions about grantmaking.

October 20, 2017

WYWF MAKES 2017 GRANT TO WYOMING WOMEN’S BUSINESS CENTER

The Wyoming Women’s Business Center (WWBC) is offering eligible participants the opportunity to match their savings one-to-one up to $2,000 through an Individual Development Account (IDA) program. The Wyoming Women’s Foundation (WYWF) is providing a grant to assist the WWBC to expand their matched savings account program. WWBC developed the IDA program in 2008, and has been helping participants purchase eligible assets for the past nine years. The grant from WYWF will help expand the existing program.

The IDA program helps participants develop a lifelong habit of saving, and provides training to develop knowledge and skills in critical financial literacy areas. Families and individuals experience first-hand saving for a specific asset purchase, and realize the benefits of saving for specific purposes.

Participants may save and get matching funds for asset purchase in one of three areas: first time home purchase, funding of post-secondary education or capitalizing a business. For WYWF, this program addresses two pathways to economic self-sufficiency outlined in On the Road: Exploring Economic Security Pathways in Wyoming, a report WYWF released in 2016. These pathways provide an opportunity for participants to move from self-sufficiency to economic security.

The WWBC has provided small business development services to Wyoming’s low-income and underserved populations since 1999. WWBC has developed a strong track record for providing high quality business and financial development services and an array of trainings to support Wyoming’s entrepreneurs. In addition to the IDA Program, the WWBC provides microloans from $500-$50,000.
The partnership between these WWBC and WYWF will provide funding for at least twenty matched savings accounts for the 2017/2018 year.

WYWF is a statewide leader dedicated to investing in self-sufficiency for women and girls in Wyoming. It makes grants to nonprofit organizations with programs that help women attain economic self-sufficiency. The WWBC strives to promote financial self-sufficiency through counseling, workshops, microloans and IDAs for Wyoming citizens; targeting women and families. Completing the IDA program, families and individuals will be better prepared to make smart decisions concerning financial issues.

To learn more about how to participate in the IDA program, visit wyomingwomen.org.

What better time than now?

Join us and make a difference in your community today.