Wellness Blog

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PNC awards Stairways 9k grant

Thursday, December 22, 2016

A recently awarded grant will help ensure that a group of individuals are on the road to financial success.

A PNC Charitable Sponsorship Grant will infuse more than $9,000 into Stairways’ Financial Education and Savings Program (FESP), a 12-week course designed to promote responsible use of money among individuals with psychiatric disabilities.

The grant will fund the spring 2017 session, marking 10 years since Stairways first launched FESP.

Set in a classroom, the program aims to improve students’ financial stability through money management and savings strategies by teaching topics including budgeting, income sources, banking and credit. Students can also utilize dollar-for-dollar matches that are available upon graduation by identifying a savings goal and reaching $500 in savings through participation in the program.

With the support of PNC, Stairways launched FESP in 2007 to help clients gain control over such an important part of their lives. Over the last decade, 176 people students have completed the program, 117 of whom were able to collect more than $124,000 in combined savings and matches.

Stairways established FESP to give a hand up to mentally ill participants, 85 percent of whom have been low income. With savings and matching funds thanks to grants like PNC’s students have been able to pay for home improvements, medical expenses, utilities, rent, education as well as car and home purchases.

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