Bank of America Charitable Foundation Awards $25k to CHIP
Posted by Nicole Powers | June 22, 2018
FOR IMMEDIATE RELEASE
June 21, 2018
CHICO—Bank of America Charitable Foundation has awarded CHIP a $25,000 grant to support financial wellness programs for Community Housing Improvement Program’s low-income rental housing residents.
Funds will be used to deliver these programs in eight affordable housing communities in Butte, Glenn, Tehama, Sutter and Yuba Counties. The goal is to educate residents about economic self-sufficiency through financial literacy classes, computer tutorials, budget training, SNAP program, making better purchasing decisions, cooking wisely and more. CHIP will also be using Bank of America’s “Better Money Habits” curriculum.
Financial stability is a daily issue. These residents are part of the more than 4 million families living in federally-assisted rental housing units earning less than 30 percent of area median income, with the average income of $18,000 a year for a family of four. Single family women, those unemployed and/or lack a high school diploma head many of these households.
This grant allows CHIP to deliver financial wellness programs to the 1088 residents at these eight rental housing communities. We want to treat the entire family so the information they receive can benefit anyone in the household, regardless of age. CHIP wants to help promote good financial behaviors and has added a special focus on financial education for youth.
Bank of America has supported CHIP’s resident services program since 2014. We value their partnership which has allowed us to consistently provide and expand our program delivery.
Community Housing Improvement Program
CHIP is a private, non-profit corporation providing quality affordable self-help housing, rental apartment communities, farm worker housing and other housing-related services to seven Northern California counties. The organization has built more than 2,500 housing units in the North Valley since 1973.
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