NC Saves (formerly "ESR Saves") is modeled on the "America Saves" program of savings and asset building. Program participants may also be eligible to become ESR clients, and receive intensive case management services, including budget counseling and basic economic literacy training. The program emphasizes savings, asset building, and wealth accumulation, and provides participants with the tools to help them become financially stable, and eventually economically self-sufficient.

NC Saves accounts are savings accounts that can be opened at any bank the participant wishes. However, several local banks have chosen to partner with NC Saves to provide accounts that pay interest, and at least begin as no-fee accounts. They can be opened with as little as $1 in some cases. Most accounts remain free of service charges if the participant has accrued a minimum of $100 within six months of opening the account.

Participants determine a savings goal for their NC Saves account, and a purpose for which they intend to use this savings. This goal should be at least $100 within six months so that the account continues without any service charges. The purpose may be anything the participant wishes. Some suggested uses include obtaining reliable transportation, paying off old debts, paying ahead on current bills, keeping as an emergency fund, saving for holiday gift purchases, etc.

The goal of the NC Saves project is to help participants develop a new mindset regarding money and financial management, with the ultimate goal of eliminating "generational poverty," or poverty that is continued from one generation to the next through example. By involving whole families in the NC Saves project, we provide strong savings and financial management examples to children, as well as teach adults how they can regulate their spending and increase their savings.

Who Qualifies

All enrolled clients in any ESR program (Self-Sufficiency, Transitional Housing, IDA) are eligible for and encourage's fund to open an NC Saves account. The client's case planner works with the client to create a feasible budget for the household, and unless the household income is simply too small to allow it, encourages the client to open and contribute $20 monthly to an NC Saves account as part of that budget.

NC Saves is not restricted to ESR clients. Anyone may participate.

To learn more about the NC Saves Program, visit these websites: