Eleven microsavings accounts offered

Eleven families will have the chance to open microsavings accounts through a partnership between Peninsula Family Service and Opportunity Fund's Start2Save initiative.

The partnership means Peninsula Family Service has been offered an additional 11 accounts through the Opportunity Fund's Start2Save initiative, the latest microsavings initiative from Opportunity Fund.

The new slots will bring the total number of Start2Save accounts offered by Peninsula Family Service to a total of 20 for the first half of the year, more than doubling the initial number offered. Enrollment in the accounts must be completed by June 30.

Start2Save accounts encourage individuals to save emergency funds by matching the savers' $500 savings deposits with an additional $1,000 in matching funds, creating a 2:1match. Opportunity Fund manages the accounts, provides case management to the savers and provides the 2:1 matching dollars. Through this partnership, Peninsula Family Service recruits clients to enroll and is contracted by Opportunity Fund to provide the required 10-hour series of financial workshops that help participants understand how to manage money and how to improve their spending habits to enable them to save before opening a Start2Save account.

To learn more about the Start2Save program and other financial empowerment programs offered by Peninsula Family Service visit www.peninsulafamilyservice.org.