Community-Centered Solutions for Building Assets
Prosperity Works is an asset-building leader using innovative solutions for limited-income New Mexicans to secure assets like a home, home-improvements, vehicle, business, or post-secondary education.
We collaborate with community organizations to:
- Generate equitable, community-centered policy solutions to provide economic prosperity for New Mexicans;
- Build partnerships that strengthen our statewide network of community organizations;
- Create asset-building opportunities for limited-income households and build intergenerational wealth and wellbeing.
Limited-income households build assets:
- From birth, with Child Development Accounts,
- To adulthood, with Individual Development Accounts;
- And other safe, affordable financial products including fair lending options.
Prosperity Kids Child Development Accounts
Prosperity Kids Child Development Accounts are matched education savings accounts for limited-income households. Each Child Development Account is opened with at least a $100 deposit and is matched 1:1—up to $200 per year, on average for a five-year period. Parents open emergency savings accounts and complete financial capability training.
Depending on the age at which a child enrolls, they can have $7,000 in savings!
Individual Development Accounts
Individual Development Accounts assist hardworking families to save money for their futures.
An Individual Development Account is a matched savings account that can be used for buying a home, home-improvements, purchase of a vehicle, starting a business, or post-secondary education. These opportunities promote prosperity that bridges generations.