(BIVN) – A one-time savings match payment was recently made by the County of Hawaiʻi to participants in the Family Self-Sufficiency (FSS) Sponsored Savings Program, following their completion of a six-month savings challenge.
More than $14,000 was disbursed by the County of Hawaiʻi Office of Housing and Community Development (OHCD) to 14 participants on June 19th.
During the check presentation, the participants were recognized “for consistently saving money each month and strengthening their financial futures.”
“Congratulations to each participant for reaching this milestone and investing in a stronger future for yourselves and your families,” said Mayor Kimo Alameda. “Building savings takes commitment and discipline, and these individuals have demonstrated both.”
From a Hawaiʻi County news release:
Participants reported plans to use their savings to reduce debt, work toward larger savings goals, set aside funds to visit family members serving in the armed forces, and continue building long-term financial stability.
“It feels like I’m no longer stressing all the time. A weight has been lifted off my shoulders,” participant Jorina Riveira said, reflecting on the relief of no longer carrying financial debt. “I still have to work on my day-to-day things, but this program helped me restructure my life and the way I manage my finances and that has made a big difference.”
FSS is a U.S. Department of Housing and Urban Development initiative that helps Housing Choice Voucher (Section 8) participants work toward financial independence through coaching, goal setting, and savings incentives tied to increased earnings. The Sponsored Savings Program builds on this model by encouraging savings goals, with participants eligible for a financial match of up to $1,500 upon completion and verification.
Participants were required to be active and in good standing in FSS and maintain at least $50 in monthly deposits into a qualified account in their name, verified monthly by OHCD.
“Discipline, sacrifice, and creating better habits — that’s how you did this,” Housing Administrator Kehaulani Costa told participants. “And once you get into that cycle, things start to improve. With savings and the skills you’ve learned, you’re leveling up from surviving to resilience on your way to thriving. I encourage you to continue saving for the important things, to really think about wants and needs, and to resist the temptation to satisfy small rewards in order to reach greater goals. When you thrive, you become an inspiration to others.”
Housing Choice Voucher participants interested in FSS may contact fsshopinfo@hawaiicounty.gov or (808) 959-4642, option 8, for more information.
While FSS is limited to Housing Choice Voucher participants, all Hawaiʻi Island residents can access free financial empowerment services through the County’s partnership with Hawaiian Community Assets. Services include financial coaching, credit and budgeting education, and homebuyer readiness training.
