Savings Start Community Partners
Each community partner provides a unique service to the program. Below is an overview of the roles and responsibilities of community partner of the Savings Start program.
Banking Partner:
The banking partner creates and manages a controlled savings account for each participant. Participants are allowed to make deposits, but can not withdraw any funds without the permission of the program administrator. According to the partnership agreement, the banking partner is required to give a monthly report to the program administrator of all participant saving activity to ensure compliance with program policy.
Financial Literacy Partner:
The financial literacy partner provides a series of trainings designed to increase participant knowledge and proficiency in personal financial management. This includes individual counseling sessions, as well as classroom-style workshops. The financial literacy partner monitors participant deposits and addresses any issues that develop during the cycle of the program.
Small Business Training Partner:
The small business partner provides counsel and guidance to each participant as they develop their own business plan, while also providing capacity building workshops for all participants in the Savings Start program. Best practices and innovative approaches to business management are part of the trainings provided by the small business training partner. Training components such as database management, basic English, marketing, and customer service are vital to a well-rounded small business training curriculum.