Over the past seven years, Silicon Valley Community Foundation has funded $6.5 million through our economic security grantmaking to support low- and moderate-income families throughout Silicon Valley. In particular, these grants have supported organizations that help consumers who are most in need of financial know-how and coaching, yet lack access to sound banking or financial-services assistance.
Our most recent round of economic security grants has awarded $955,000 to 22 organizations.
“In Silicon Valley, financial institutions go to great lengths to cater to the wealthy or well-heeled,” said Sarah Davison, FEAB program officer at SVCF. “But those who most need the skills to build and protect their assets and establish credit are too often on their own, or fall victim to predatory companies. We are pleased to fund organizations that reach workers where they live and work, and that also follow through to build habits that lift families into economic stability and a new level of financial security.”
Organizations that received grants include:
- United Way of the Bay Area ($100,000) to improve the economic security of households in San Mateo and Santa Clara counties by tax preparation assistance, which has been one of the most effective poverty-reduction tools by alerting families to credits that boost take-home pay.
- Peninsula Family Services ($75,000) to support financial education and coaching, and help clients access affordable auto loans, prepaid debit cards and other lending services.
- Self-Help Economic Development ($100,000) to reach underserved communities with a mobile financial services platform and a full-service credit union in San Jose.