The Personal Investment Enterprise's (PIE) mission is to provide tools and incentives that empower low-income individuals and families to save and build assets to strengthen their economic stability. Asset building is an emerging and promising approach to alleviating poverty and promoting self-sufficiency for families throughout the United States.
PIE Program participants open Individual Development Accounts (IDAs), which are matched savings accounts, for home ownership, post-secondary education, and small business capitalization. PIE is the only IDA program in Boulder and Broomfield counties and one of only three in Colorado. The program provides a maximum match of $4,000 toward the asset purchase of each program participant. Participants in the program must save in the IDA/PIE Program for at least 6 months and may stay up to 30 months. During that time participants save a minimum of $33 per month, which must come from earned income. The savings are matched 4:1 up to $1,000 (with a $4,000 match). Participants also attend a series of 4 financial literacy classes and then an asset specific class related to their purchase goal.
For more information about the Personal Investment Enterprise program contact: Rosemary Thompson, PIE Program Director (303) 895-3412 Nino Gallo, Community Action Programs (303) 441-3998 PIE is a partnership between Foothills United Way and Boulder County Community Action Programs.