Asset Development Program

East Cooper Community Outreach (ECCO)’s Asset Development Program (ADP) is the only matched savings program in the Lowcountry. Launched in 2019, it helps individuals and families build assets and achieve financial stability. Participants’ savings are matched 3-to-1, meaning for every $1 saved, ECCO matches with $3, up to a savings match limit of $1,000 (resulting in a maximum match of $3,000).

 

The program supports:

  • Purchase of a new home
  • Start a new or expand an existing small business
  • Pay for post-secondary education

This program is designed to support eligible individuals by providing the necessary tools and financial education to achieve economic stability. Learn how to develop a budget and set goals, establish regular savings habits, and invest in productive assets.

Program Highlights:

  • Participants must save regularly in a special ADP account.
  • Savings can be used after reaching a goal and completing training.
  • Includes financial education, goal-setting, and budgeting assistance.
  • Example: A participant saved $1,000, and ECCO matched it with $3,000 to complete a home down payment.

Program Requirements:

  • Stay in the program until the savings goal is met.
  • Make a deposit at least once a month.
  • Be enrolled for at least six months before withdrawal.
  • Attend financial and asset-specific training sessions.
  • Receive case management and follow-up for one year.

Who is eligible to apply?

  • Residents of Charleston, Berkeley, or Dorchester counties.
  • Income at or below 250% of the Federal Poverty Level.
  • Earned income from traditional wages or self-employment.

 

 

How to Apply:

Please contact our ADP coordinator, Cathi Rider, for more information. Feel free to reach her by phone at (843) 416-7136 or by email at crider@ECCOcharleston.org. 

When applying, you’ll need to provide the following information:

  • Proof of residency in Charleston, Dorchester, or Berkeley counties (valid state license, or another form of identification – passport, social security card)
  • Proof of current income (recent pay stub, a letter from employer, etc., or another way to show earned income)

 

Hello! I’m Cathi Rider, and I’m thrilled to introduce you to the Asset Development Program at ECCO. I hope you’ll consider being a part of this transformative program. My goal is to work alongside you, providing guidance and support as you take steps toward financial empowerment. I’m dedicated to helping you achieve your goals and reach new heights, and I look forward to being a part of your journey toward realizing your dreams.