The beginning
CAAB puts people on the road to financial independence. Our programs help low- and moderate-income individuals and families improve their money management skills, increase their savings, and build wealth by investing wisely. Our goal is to create a community that provides everyone with incentives and opportunities to save for the future. CAAB was founded in 1997 by several nonprofit organizations that shared a common goal to support the
development ofIndividual Development Account (IDA) programs in Washington, DC. Since then, we have significantly expanded our programming to connect low- and moderate-income consumers with the financial education, financial coaching, credit counseling, and financial planning services that help them to increase and enhance their financial capability and security.
Though CAAB provides and offers its services throughout the Greater DC area, about 65% of our customers reside in DC Voting Wards 5, 7 and 8 where we have a particular focus on collaborating with local and neighborhood organizations to address and alleviate long standing poverty and inequality issues. Another 25% of our customers, are low-income DC residents, residing in DC Voting Wards 1 and 4. The remaining 10% of our customers reside in DC or in the surrounding area.
Associated organizations
CAAB’s partners are community-based organizations, many of whom have a longstanding record of serving clients in disadvantaged neighborhoods of the District of Columbia. CAAB started with five members and has grown to ten. CAAB members provide direct services that include money management workshops, one-on-one budget and credit counseling, homebuyer education, small business training, job training, and career counseling.
In addition to working with its partner organizations, CAAB partners with a wide range of non-profit organizations and for profit financial institutions to bring financial education and savings opportunities to underserved residents.
Support
CAAB has received generous funding from both private and public sources: The Morris and Gwendolyn Cafritz Foundation, The Annie E. Casey Foundation, Citibank / Citigroup Foundation, the Corporation for Enterprise Development, the Naomi and Nehemiah Cohen Foundation, the Government of the District of Columbia, The Community Foundation for the National Capital Region, United States Department of Health and Human Services, The Enterprise Foundation, The Federal Home Loan Bank of San Francisco through Citibank, Fannie Mae Foundation, The Harman Family Foundation, The Himmelfarb Foundation, The McAuley Institute, Eugene and Agnes E. Meyer Foundation, The Moriah Fund, The Nehemiah Corporation, The Rotary Club, and The Wendling Foundation.
