Press release
Washington Trust Supports Amos House's Financial Opportunity Center
Charitable Foundation Grant and Digital Resources Support Client Success WESTERLY, R.I., Oct. 24, 2023 /PRNewswire/ -- The Washington Trust Company
About this update from Washington Trust Bancorp, Inc.
[{"type":"text","content":"Charitable Foundation Grant and Digital Resources Support Client Success\nWESTERLY, R.I., Oct. 24, 2023 /PRNewswire/ -- The Washington Trust Company (\"Washington Trust\") recently announced a gift totaling $30,000 to support the operations of Amos House's Financial Opportunity Center (FOC). The donation will be used to support savings and incentive programs, outreach efforts and more. The Bank also provides Amos House with access to a full suite of digital financial education tools, including a personalized webpage that allows Amos House clients to earn rewards by completing assigned reading, budgeting, and finance exercises.\n\n \n \n \n \n \n \n\n \nThe FOC at Amos House is based on the national Local Initiatives Support Corporation's Financial Opportunity Center® model, which outlines how an agency can deliver programming to 'support low- to moderate-income community members as they build effective money habits so that they can focus on the financial bottom line.'\n\"Washington Trust is committed to helping Rhode Islanders achieve financial freedom, and we are pleased to partner with Amos House to support their Financial Opportunity Center,\" said Edward O. \"Ned\" Handy III, Chairman and Chief Executive Officer at Washington Trust. \"The FOC at Amos House helps clients take steps to become financially informed and independent, building economic empowerment and self-sufficiency for themselves and their families. We are thrilled to support this mission and applaud Amos House for their innovation, leadership, and commitment to Rhode Islanders in need.\"\nAmos House's Financial Opportunity Center, established in 2011, has produced impressive results. Nearly 2,000 individuals have engaged in financial coaching, which has helped them to increase their net income, start and grow their savings, and take significant steps towards stability through things like a car purchase or apartment rental.\nThere have been significant successes for individuals who have participated in FOC programming in 2023:\n120 individuals gained employment;60 individuals increased their net worth;72 increased their net income;63 individuals increased their savings, with an average increase of $2,400; and30 individuals opened bank accounts\"Washington Trust's funding helps to drive our FOC's savings incentive program, and the financial education software the...