The RISE Foundation is empowering low-income working Memphians to become self-sufficient through financial literacy education.
The nonprofit’s Save Up program teaches participants how to create a budget based on their personal income and expenses, and monitor and improve their credit scores. RISE also helps participants establish bank accounts and purchase assets.
After completing classes, participants receive help opening a matched-savings account and enrolling in asset-specific training. For example, those saving for homeownership will need to complete homebuyer education classes. RISE then helps participants purchase the asset for which they’ve saved, including homes, vehicles and education tuition.