Stories of Impact: ProsperityME: The Center for Financial Education
This case study is part of MANP’s Stories of Impact series highlighting the many ways Maine’s nonprofits are essential to a strong and healthy Maine. Read MANP’s full Adding Impact Report.
Our broader society benefits from a flourishing and economically independent Maine refugee and immigrant community. By providing the opportunity for financial literacy, ProsperityME fosters integration and stability, promoting a strong economy. ProsperityME assists in transitioning individuals and families out of poverty and into self-sufficiency by teaching them how to make sound decisions as they manage their personal finances.
ProsperityME’s financial services, higher education support, housing and workforce education are the tools needed for the process of financial stability. Increasing the financial knowledge and confidence of clients better prepares them to build strong financial futures for themselves and their families.
Since its creation in 2008, ProsperityME has:
- Provided access to economic education and resources by offering 175 financial courses/workshops reaching over 2,200 and one-on-one financial counseling/coaching to 804 individuals.
- Offered college planning sessions, assisting participants with access to higher education through counseling and scholarships.
- Helped develop new small businesses, the backbone of Maine’s economy including Auto-Care, LLC (Portland) and the African grocery store, Moriah Store (Portland).
- Through its partnership with CEI, ProsperityME has guided 190 participants in a matching savings program, opening savings and matching funds totaling $1.14 million towards purchased assets with a value of $1.6 million to build additional economic opportunity to about 190 individuals and families since 2012.