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
jsalter@amoshouse.com 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