Investing in People Has Huge Returns
Families Are Unique
Each individual and family is unique. They have their own challenges, strengths and goals. That’s why they appreciate our strength-based approach. It allows them to use their UpTogether cash investments in whatever way is best for them and their circumstances.
Although our members set their own goals and we cannot predict the exact outcomes, historically over two years with UpTogether (previously Family Independence Initiative), we have learned that our members – with support from their community – consistently have significant gains in their financial position.
Here are some of the outcomes we saw with our members before the COVID-19 pandemic.
- Increase in monthly savings account balance from $311 to $976
- Increase in monthly income by 23%
- Increase in retirement investment account from $602 to $1,256
- Increase in total liquid assets from $759 to $2,396
- Increase in monthly business income by 77% (from $164 to
$290) with 66% of new family-owned business activity
- 36% decrease in subsidies such as SNAP and TANF
- Reported their children had excellent, good or improvement
in grades (88%)
It’s important to note these data represent families’ experiences from the nearly twenty year period before the coronavirus pandemic and it is difficult, if not impossible, to predict outcomes moving forward in light of COVID-19’s disruption.
To learn more about the COVID-19 work we did in 2020, read this impact report. (We were still known as Family Independence Initiative at the time the report was published.)