Women's Foundation of Montana News

In our newest publication, Issue 8, Summer 2011 , we share stories about new leadership and purpose for the Women's Foundation.

FOR IMMEDIATE RELEASE
October 31, 2011

CONTACT:
Jen Euell, Program Director, Women’s Foundation of Montana 406.461.7695, jeneuell@mtcf.org

Jolene Bach, Communications Director, Rural Dyamics, Inc. 406.750.4481, joleneb@ruraldynamics.org

Jeanne Saarinen, Executive Director, Montana Credit Unions for Community Development, 1.800.745.5546, ext.131, jeanne@mcun.org

SAFE Project to Benefit Gallatin Women in Financial Crisis Kicks Off

Starting November 1st, Gallatin women have a chance to build a more secure future for their families through an innovative new project called SAFE (Securing Access to Financial Education). SAFE provides a free comprehensive financial education class for women in financial crisis to learn about budgeting, credit and saving for the future. SAFE has two unique features: participants receive a matched savings account in which savings are matched dollar for dollar, up to $250, for a total of $500 in savings. SAFE participants also receive a $300 line of credit for emergencies.

“We are excited to be part of the SAFE project. Offering women and families an opportunity to access short term capital while building for their future is critical to help stabilize someone going through a temporary crisis,” said Tom Jacobson, CEO of Rural Dynamics, Inc. “We commend the credit unions for taking a lead role in short term loan products and will do our part to help individuals and families access the financial advising and education they need to thrive.”

The SAFE Project is a partnership of the Women’s Foundation of Montana, Montana Credit Unions for Community Development (MCUCD), Rural Dynamics Inc., Rocky Mountain Credit Union and Sky Federal Credit Union. The Women’s Foundation of Montana, with funding from the Doll Family Foundation, is coordinating the project and providing the funds for the matched savings program. Rural Dynamics Inc. is providing the financial literacy classes. Montana Credit Unions for Community Development, with members Rocky Mountain Credit Union and Sky Federal Credit Union, is providing participants with access to a line of credit and a matched savings account.

“Building savings and having access to affordable credit are integral to achieving personal financial security. We’re thrilled that the Women’s Foundation of Montana developed this innovative SAFE Program to help women in Gallatin County,” said Jeanne Saarinen, Executive Director of MCUCD.

Women can apply for the program by visiting either Rocky Mountain Credit Union or Sky Federal Credit Union to hear more and pick up a short application. Or they can visit the websites of any of the program partners to learn more.

CONTACT:
Jen Euell, Program Director, Women’s Foundation of Montana
(406) 461-7695, jeneuell@mtcf.org

Women’s Foundation of Montana Receives Grant to Benefit Bozeman Women in Financial Crisis

The Women's Foundation of Montana is pleased to announce a $7,000 gift from the Doll Family Foundation to benefit women in crisis in Bozeman, Montana. This generous gift will be used to pilot an innovative project called the SAFE (Securing Access with Financial Education) Loan Project, which offers 28 women in crisis a short-term line of credit as well as a matched savings account, credit counseling and a financial literacy course. "I'm thrilled by this gift,” said Jen Euell, Program Director of the Women’s Foundation of Montana. “It will be of great benefit to many women in Bozeman in need. This project gives us the opportunity to really test out some different techniques for increasing women’s economic self-sufficiency and find out what works for Montana women."

Women's Foundation of Montana Board Chair, Sheila Rice agrees. "The SAFE Loan Project is the perfect follow-up for our great success in helping to pass the I-164 Initiative to cap the rate on payday loans in Montana. This project allows us to help women build their own savings so they no longer need access to quick cash. This program also provides the added benefits of financial education and counseling that will improve credit scores and prevent the same situation from coming up for Montana women down the road.”

The SAFE Loan Project is a partnership of the Women’s Foundation of Montana, Montana Credit Unions for Community Development, Rural Dynamics Inc., Rocky Mountain Credit Union and Sky Federal Credit Union. “This project would not be possible without the expertise, dedication and generous donation of staff time of our many partners. Because of their support, every dollar given by the Doll Family Foundation will go directly to a woman in need”, says Euell.

The Women’s Foundation of Montana has been working to grow the economic self-sufficiency of women and a brighter future for girls in Montana since 1999. The Foundation has granted more than $450,000 to organizations working to improve the lives of women and girls in Montana. Find us at www.wfmontana.org.

Women's Wire