Family Assets for Independence in Minnesota (FAIM) 

The FAIM program assists low-wage earners save money to: 

  • Start a business,
  • Purchase a home, or
  • Pursue higher education for you or a dependent

How does FAIM work?

FAIM helps low-wage earners save money by tripling each dollar they save. Program
participants save $40 each month in a special savings account. Those savings are matched at a 3 to 1 rate. That means for every $40 saved FAIM will add $120 a month.

FAIM eligibility Guidelines

Participants must:

  • Be at least 18 years of age
  • Have earned income at the time of enrollment
  • Be a resident of Hennepin County at time of participation in FAIM
  • Have assets of $10,000 or less
  • Deposit savings from earned income
  • Attend Financial Literacy Workshop