Penquis Receives $50,000 Grant from NeighborWorks America
A much-needed boost for Penquis’ efforts in helping families with financial education
Bangor, Maine, September 11, 2023 – Penquis announced that it has received a grant of $50,000 from NeighborWorks America to support Penquis’ Financial Capability Program. Funding will be used to expand services and increase the number of people served by the program.
“We are thankful for the opportunity to expand our Financial Capability Program’s reach and impact,” says Kara Hay, CEO of Penquis. “With this generous grant from NeighborWorks, we will be hiring a Financial Coaching & Savings Coordinator, which will allow us to expand our 1:1 financial coaching and provide new financial education classes. This expansion will also allow us to integrate services provided through the Financial Capability Programs, with other programs such as the Family Development Account Program and Volunteer Income Tax Assistance, to better meet the needs of our community.”
The Penquis Financial Capability Program serves six Maine counties: Penobscot, Piscataquis, Knox, Waldo, Washington, and Hancock. It includes classes and 1:1 coaching, both of which provide information regarding goal setting, budgeting, saving, credit building, and bank services. Information is offered on other programs, such as matched savings accounts and heating assistance, and referrals are made to services that could benefit the participants’ families, such as child care, employment, and transportation.
As a member of the NeighborWorks network, Penquis is part of a nationwide network of nearly 250 housing and community development organizations. In fiscal year 2022, NeighborWorks America and the NeighborWorks network generated almost $10.8 billion in direct investment in communities across the country.
ABOUT PENQUIS: Established in 1967, Penquis is a non-profit 501(c)(3) organization dedicated to supporting Maine families in becoming healthy, safe, connected, and financially secure. Penquis programs focus on five areas: economic security, housing stability, school readiness, high quality transportation and healthy lives. Penquis serves between 3,500 and 5,000 people on any given day and more than 30,000 each year.