FOR IMMEDIATE RELEASE   January 10, 2007       For more information, contact: Dr. Vanessa Nelson-Reed                 803-238-4303 Asset Building Project Leads Low-Income Women to Self- Sufficiency WASHINGTON, DC –– Low income women in South Carolina gained a new resource for reaching economic self-sufficiency as part of an asset building project announced by South Carolina Women Work!, an affiliate of Women Work! The National Network for Women’s Employment. South Carolina Women Work! will help women save using the proven method of teaching financial literacy while encouraging program participants to build assets through a matched savings program. The Economic Self-Sufficiency through Financial Education and Individual Development Accounts project is made possible with the generous support of the CREW Foundation. “Lack of financial education is a very real barrier for women trying to achieve economic independence,” said Dr. Vanessa Nelson- Reed, South Carolina Women Work! President. “As part of the nation’s largest network of education and job training programs for women, we know that the ability to manage and save money helps women leave poverty, gain employment stability and move their families towards a better life.” Women Work! state affiliates in New York, Wisconsin, North Carolina, South Carolina and Maryland are geared up to implement financial literacy education campaigns and to educate eligible women about the benefits of participating in a matched savings or Individual Development Account (IDA) program. Technical assistance and training from the Women Work! national office will ensure that more than 6,000 women gain greater economic self-sufficiency as a result of the project. “For women who are struggling to pay the rent, saving money can seem like an unattainable luxury. By creating the conditions that enable and encourage low income women to save money, Women Work! and the CREW Foundation are helping families succeed,” said Anne Lawler, CREW Foundation Board of Trustees Chairperson. IDAs were established in 1998 under the Assets for Independence Act to promote savings among low income individuals. This unique approach pairs financial education with providing matching funds to reward saving. IDAs have proven to be a successful strategy for helping women save money and accumulate assets as a means to attain economic self-sufficiency. For more information, contact Dr. Vanessa Nelson-Reed, South Carolina Women Work! at 803-238-4303 or visit our website at www.southcarolinawomenwork.com.   #      #       #