PR Newswire
WESTERLY, R.I., Oct. 24, 2023
Charitable Foundation Grant and Digital Resources Support Client Success
WESTERLY, R.I., Oct. 24, 2023 /PRNewswire/ -- The Washington Trust Company ("Washington Trust") recently announced a gift totaling $30,000 to support the operations of Amos House's Financial Opportunity Center (FOC). The donation will be used to support savings and incentive programs, outreach efforts and more. The Bank also provides Amos House with access to a full suite of digital financial education tools, including a personalized webpage that allows Amos House clients to earn rewards by completing assigned reading, budgeting, and finance exercises.
The FOC at Amos House is based on the national Local Initiatives Support Corporation's Financial Opportunity Center® model, which outlines how an agency can deliver programming to 'support low- to moderate-income community members as they build effective money habits so that they can focus on the financial bottom line.'
"Washington Trust is committed to helping Rhode Islanders achieve financial freedom, and we are pleased to partner with Amos House to support their Financial Opportunity Center," said Edward O. "Ned" Handy III, Chairman and Chief Executive Officer at Washington Trust. "The FOC at Amos House helps clients take steps to become financially informed and independent, building economic empowerment and self-sufficiency for themselves and their families. We are thrilled to support this mission and applaud Amos House for their innovation, leadership, and commitment to Rhode Islanders in need."
Amos House's Financial Opportunity Center, established in 2011, has produced impressive results. Nearly 2,000 individuals have engaged in financial coaching, which has helped them to increase their net income, start and grow their savings, and take significant steps towards stability through things like a car purchase or apartment rental.
There have been significant successes for individuals who have participated in FOC programming in 2023:
- 120 individuals gained employment;
- 60 individuals increased their net worth;
- 72 increased their net income;
- 63 individuals increased their savings, with an average increase of $2,400; and
- 30 individuals opened bank accounts
"Washington Trust's funding helps to drive our FOC's savings incentive program, and the financial education software they provide gives our staff the tools and resources they need to help our clients hit key financial milestones and reinforce the positive habits that lead to long-term stability," said Jen Kodis, Director of Workforce Services at Amos House. "We're grateful for Washington Trust's support as we work to help our clients achieve financial empowerment."
To support Amos House's Financial Opportunity Center programming, or any of their other programs that help lift individuals and families out of the cycle of poverty, contact Jessica Salter at [email protected] or 401-272-0220 x210.
ABOUT WASHINGTON TRUST®
Founded in 1800, Washington Trust is recognized as the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast's premier financial services companies. Washington Trust values its role as a community bank and is committed to helping the people, businesses, and organizations of New England improve their financial lives. The Bank offers a wide range of commercial banking, mortgage banking, personal banking and wealth management services through its offices in Rhode Island, Connecticut and Massachusetts and a full suite of convenient digital tools. Washington Trust is a member of the FDIC and an equal housing lender. Washington Trust is a subsidiary of Washington Trust Bancorp, Inc., a publicly-owned holding company which trades on NASDAQ: WASH. For more information, visit the Bank's website at www.washtrust.com or the Corporation's website at ir.washtrust.com.
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SOURCE The Washington Trust Company
