PAPILLION, Neb.–Cobalt Credit Union said it has entered into a partnership with Eastern Nebraska Community Action Partnership (ENCAP) to  support the launch of the Matched Savings Program, an initiative it said is designed to  improve financial well-being and longer-term economic stability for families in need. 

ENCAP, a local nonprofit organization dedicated to helping individuals achieve  self-sufficiency, was recently awarded private grant funds to launch a financial  health and wellness program, the credit union reported.

According to Cobalt CU, the initiative offers participants financial  education, coaching, and match support as they build their savings to prevent  future financial hardships. The 12-month program consists of two six-month  phases, offering a 2:1 Savings Match in Phase 1 and a 3:1 match in Phase 2.  

It added the  successful launch of the Matched Savings pilot project was made possible  through strong community partnerships and investments via: The BRIDGE  Family Resource Connector Network, The Sherwood Foundation, The Weitz  Family Foundation, and Cobalt Credit Union. 

‘Impactful Opportunity’

“The Matched Savings Program is an impactful opportunity to help people  reflect on their relationship with money, develop a habit of savings, and get  ahead over time,” Program Manager and Financial Social Worker Nicky  Clark said in a statement.

Added ENCAP Executive Director Aaron Bowen, “We believe financial  empowerment is a critical step toward long term stability. We are thrilled to  partner with Cobalt Credit Union to build and improve financial futures.