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Pa. Family Savings Account introduced for underserved
HARRISBURG, Pa. (8/29/08)--Pennsylvania’s Family Savings Account program (FSA) was introduced to the underserved of Lebanon County at a press conference Tuesday by PROBE Inc. in Lebanon, Pa. The presentation described how private enterprise and Pennsylvania can work together to help underserved consumers.
From left: Glenn Rambler, Lebanon (Pa.) FCU; Joe Wambach, Pennsylvania Credit Union Foundation; Kathy Verna and Theresa Trainer, PROBE; and State Rep. Mauree Gingrich attend a press conference announcing Pennsylvania’s Family Savings Account Program. (Photo provided by the Pennsylvania Credit Union Association)
Thirty-nine underserved consumers will benefit from FSA. Through this program, Pennsylvania provides money to community-based, nonprofit organizations to help individuals and families set up accounts and offers a match--of up to $2,000 over two years. FSAs can be used to buy a home, repair a home, purchase a vehicle, pay for education or daycare, and train for or start a business. Attending the ceremonies were: Joe Wambach, executive director, Pennsylvania Credit Union Foundation; Glenn Rambler, executive vice president, Lebanon (Pa.) FCU; Holly Chase, community-based financial education specialist for the Pennsylvania Office of Financial Education; Teresa Trainer, counselor, PROBE Inc.; and Kathy Verna, executive director of PROBE Inc. Also participating in the program was State Rep. Mauree A. Gingrich (R-101). The Pennsylvania Credit Union Foundation and Lebanon FCU support PROBE Inc. and Lebanon County’s local Financial Literacy Project, a collaborative effort between more than 20 Lebanon County health and human service agencies, government agencies, local financial institutions, businesses, and the Lebanon County Commission for Women. The total foundation grant over a three-and-a-half-year period of the project is $36,000. To date, the foundation and Lebanon FCU have contributed $20,000 to PROBE Inc.
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