Welcome

Midas is a statewide network of innovative community groups increasing economic stability in Massachusetts through financial education, personal savings, and access to wealth-building assets such as homes, cars, college educations, and small business.

We provide tools, products, training, and expertise to assist community-based organizations, partners, public officials, and the general public to increase asset-building and retention.

Arelis, who graduated from the post-secondary education matched savings program, on the day of her high school graduation before heading out to study at the College of the Holy Cross in Worcester, June 2010.

Members of the Massachusetts Asset Development Commission with Governor Patrick at the release of their report in 9/2009.

Lawrence Community Works staff with the graduates of the Welcome Home matched savings program, February 2011.

Congresswoman Niki Tsongas, accepting the CFED Policy Champion Award, presented by Midas and Lawrence Community Works staff in DC, 9/2010.

Participants in the Midas two day Coaching for Transformation training practice their skills, November 2010.

Tom Lorello, Executive Director of Heading Home, a Midas member, with Governor Patrick at the graduation of Heading Home program participants from at Roxbury Community College, April 2010.

Nickey Mullen with Gina Marciano from Center for Women and Enterprise (center) and another CWE investor at the Assets & Opportunity Celebration.

Asset-builders and artists, Michael Wolski and Dianne Zimbabwe, discuss art and enjoy some food at the Assets & Opportunity Celebration on May 5, 2011

CFED President, Andrea Levere, and other guests at the Assets & Opportunity Celebration on May 5, 2011

Spotlight

See the 46 businesses that Midas has assisted to expand, hire help, buy equipment, increase working capital, and more with the investment of over $140,000.

Highlights here.

Just Released: "Enhancing Financial Stability in Hampden County"

The United Way and Midas promote community-based economic initiatives in Western Mass.

Executive Summary (PDF).
Full Report (PDF).

(Browse prior Spolight items)

Our Results

Got the Word Out! Over 60 thousand low and moderate-income Mass residents in Gateway Cities and Boston neighborhoods received important consumer-protective, multilingual, Massachusetts-specific financial guidance in the book “Staying Afloat: Managing Your Finances in the Changing Economy”

Economy Stimulated! As of two somber 2011, the 207 matched savings graduates invested in over $15.3 million worth of homes educations small businesses and other assets.

Financial skills improved! Financial Coach Training will help over 750 volunteers and staffers coach over 6300 Massachusetts residents to improve their finances!

Credit improved! Matched savings and focused financial counseling increased credit scores of Midas graduates by 21%.

Community engaged! Integrated asset-building and leadership programs increased voter registration from 49% to 69%.

Leading for the kids! Calls, visits, and letters from Midas members to state legislators resulted in 10 bills being filed in the House and Senate to require financial education in the Massachusetts' K-12 public schools.

High return on public investment! For every dollar in state funds expended in the Midas matched savings program, $64 in local investment was made and 43¢ in property taxes will support cities and towns.

Increased Personal Savings: As of December 2011, 755 matched savings investors saved a total of $536,000 and accrued $1,203,654 in matching funds, to total $1.7 million in matched savings.

Solutions Proposed! In a New Report "Enhancing Financial Stability in Hampden County" Midas provided community research and recommendations for economic stability in Western Mass.

Brought Home the Bacon! Assisted MTAC partners and tax volunteers to help over 16,000 low income taxpayers save an estimated $4.9 million in high-cost tax preparation fees, and return over 23.3 million into their households and their communities through tax refunds.