Action for Boston Community Development

178 Tremont St.
Boston, MA 02111

Lead in Asset Development:
Vernette Allen
Director - Financial Futures Initiatives



Since its inception in 1962, ABCD has remained devoted to its mission of promoting self-help for low-income people and neighborhoods. ABCD empowers disadvantaged people by providing them with the tools to overcome poverty, live with dignity, and achieve their full potential. It emphasizes education, skilled job-training and asset development.

Work in Asset Building:

ABCD’s Financial Futures Initiative helps low-income households permanently escape poverty by building assets through home ownership, savings, higher education and entrepreneurship.

This initiative currently includes an Individual Development Account (IDA) program with matched savings accounts to help low-income workers save for and purchase a home. More than 50 persons signed up for a 30-person IDA workshop series recently, demonstrating the huge demand for this program.

ABCD's Financial Futures Initiative has also developed an agency-wide approach to Financial Literacy Education for consumers of ABCD services. Along with IDAs, the program will include Life Long Learning Accounts (LiLAs), the Earned Income Tax Credit (EITC) program, and access to credit counseling, foreclosure prevention counseling, first-time homebuyer services and other specialized programs.