Compass Working Capital

Compass Working Capital ("Compass") is a nonprofit financial services organization for low-income families. We provide incentive-based savings and financial coaching programs that empower working, low-income families to build assets, achieve their financial goals, and become financially secure. Our broader vision is to build a leading, nonprofit financial services organization that promotes economic mobility and financial security for working poor families by influencing field-related practice and policy.

Our work builds on the research and practice of a broader asset building field, which has demonstrated the importance of savings and assets in lifting families out of poverty. By providing an integrated set of financial workshops, financial coaching sessions, and access to opportunities such as savings incentives and high quality financial products, our programs empower families to build their financial capabilities and to achieve their financial goals. Compass brings a singular focus on personal finance for the working poor, an expertise that we believe distinguishes us from other nonprofit organizations.

Migueline Alcantara, a participant in one of our programs, lives in Lynn, MA with her three children. She works full-time as an office manager at a physical therapy office. She has saved $5,249 through the program. Here's what she had to say about her experience with Compass:

"Through the classes, I learned how to spend, save, and pay my old debts. Most importantly, I learned how to depend on myself after having Section 8 for so many years.

"I have accomplished so much while being in the program. Using the money I had started to save, I was able to pay all my old debts that had been on my credit report for years. I now continue to save regularly and have a better understanding of where my money is being spent."

Our core financial coaching and savings programs currently serve residents of subsidized housing in greater Boston, Cambridge, and Lynn, Massachusetts. We anticipate continued growth and expansion of our programs.