The Alabama Asset Building Coalition recently presented their Community Champion Award to The Community Foundation of South Alabama for implementing effective wealth building programs for the citizens of south Alabama.

The Alabama Asset Building Coalition is a statewide collaboration that was formed to promote financial stability by facilitating savings and financial education.

The Community Foundation of South Alabama helped to establish the Alabama Asset Building Coalition South Alabama Region and secured $25,000 in local funding for matching Individual Development Accounts. The Volunteer Income Tax Assistance program grew from 3 to 8 counties as a direct result of more organizations participating in the South Alabama VITA Coalition. Plus, the South Alabama Financial Literacy Network was established to promote the FDIC Money Smart program which teaches the mechanics of budgeting and how to maintain a checking account.

The Community Foundation has been focused upon community economic development and is one of the lead agencies for the Alabama Asset Building Coalition. The coalition promotes Financial Literacy, Volunteer Income Tax Assistance and Individual Development Accounts which encourage financial stability and create an economic foundation that will help our community reach its potential.

 

December 2009