Communities First seeks $5 million to scale 'Family Mobility Savings' program that builds emergency savings
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Summary
Communities First asked the subcommittee for a $5 million, three‑year appropriation to expand a program that pairs financial literacy and coaching with matched deposits; the group reported that 94% of accounts set up still held funds and administrative costs would not exceed 10% of the request.
Communities First told the House subcommittee it seeks $5 million over three years to scale its Family Mobility Savings Program, which combines financial‑literacy coursework, coaching and incentive deposits to help low‑ and moderate‑income Michiganders build emergency savings.
Joel Arnold described program outcomes from private‑funded pilots: about 150 participants have engaged with the program, 65 completed it fully, more than $70,000 has been deposited into participants’ emergency savings and program surveys report that 94% of the funds set up remained in accounts at the time of the survey. Arnold said administrative expenses for the scaled program would not exceed 10% of the requested appropriation and that funds would primarily pay success coaches and matched deposits tied to milestone achievements.
Committee members asked whether the program would be sustainable after the three‑year period and whether funds could be used for tuition or other costs. Arnold said the program would continue to seek private partnerships and that appropriated funds would mainly support coaching staff and savings deposits; he said deposits could be used for a range of emergency needs but participants are asked to consult with success coaches before withdrawal.
No committee vote occurred on the appropriation during the hearing.
