Financial Products & Services
Community Savings Center
Bethel's financial education program is known as the $mart Savers Program. $mart Savers was established in 2000, and to date has enrolled over 150 savers, generating significant dollars in new investments for underdeveloped communities. $mart Savers helps individuals and families save money towards the purchase of a home, to start or continue a small business, or for post-secondary education.
Bethel partners with individuals and families who commit to complete financial education classes and save to meet specific goals. Savings are matched at a 2:1 ratio, after the saving goal is met. Basic financial education classes are conveniently held in the evening for up to 8 weeks. The financial education classes empower participants to develop financial planning, budgeting, and debt management skills; as well as build awareness of banking, investing, and other higher cost lending sources. Bethel is embarking on a major initiative in 2006, encouraging up to 250 households to become active "$mart Savers".
Service Area
Chicago Metropolitan Area
Program Requirements
Residents of Illinois and EITC and/or TANF eligible or resident of Illinois also individuals or families with proof of earned income at 200% of the federal poverty line according to Department of Health and Human Services-Department of Community Services (guidelines) and have a net worth below $10,000, with the exclusion of a car or primary residence.
Internal Linkages
All Bethel Programs
Administration
External Linkages
Bethel Lutheran Church
Chicago Police Department
Chicago Public Schools
Chicago Urban League
City of Chicago
Department of Health and Human Services - Office of Community Services
US Bank
Goodcity/Assetbuilders (formerly MidAmercia Leadership Foundation)
Lutheran Social Services of Illinois
NAACP
Thrivent Financial Services for Lutherans
$mart $avers Program
Get on the Path of Building Wealth
Whatever your financial goals, the Community Savings Center can help you achieve them.
Earn $2 for every $1 you save...up to $2,000!!!
Start or stabilize your own small business
Buy a home
Obtain training/post-secondary education
Develop better budgeting skills, save more money, build and/or improve your credit
In order to qualify:
You must be 18 years old or older
A proven resident of Illinois
Have an income to save (TANF included)
Commit to saving $2,000
Smart Savers is a collaboration of Bethel New Life ~Community Savings Center, US Bank and Thrivent Financial Services for Lutherans.
Call the Community Savings Center today at 773-826-8121 and ask for Smart Savers!
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