FSW’s Bridge Fund helps families stay housed
and take control of their financial future.
SPOTLIGHT ON
FSW
In Bridgeport, a worker needs to earn $18 an hour, nearly two and a half times the minimum wage, to afford a two-bedroom apartment.
“Families live from paycheck to paycheck, stretching limited funds as best they can,” said Carla Miklos, director of the Family Assets program at FSW, a human services organization.
Family Assets runs the Bridge Fund, a homelessness prevention program that includes the Security Deposit Loan Pool for clients seeking safe homes for themselves and their children. The loans, averaging just under $1,000 each, are applicable toward security deposits and protection against eviction and foreclosure. The loans are interest free, and about 80 percent are paid back within 12 months. The staff at Family Assets also teaches Bridge Fund clients how to manage their money, advocates for their needs and helps them remain housed.
Family Assets receives more than 1,200 calls a year from residents in need. They are referred through nearly every social service agency, shelter, legal service provider and community center in the area.
With the help of the Charter Oak grants Family Assets received in 2004 and 2005, Family Assets is able to help these families stabilize their housing situations.
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