The second quarter of 2026 brought both exciting progress and new challenges for The MICAH Program. As financial pressures continue to affect many families in our community, we remain committed to helping our Neighbors gain access to affordable loans while building the financial skills needed for long-term stability.
Introducing the MICAH Matched Savings Program
We are excited to announce that, beginning this fall, The MICAH Program will launch a Matched Savings Program in partnership with Self-Help Credit Union.
The program is inspired by the well-known proverb often attributed to Anne Isabella Thackeray Ritchie:
“Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.”
Our goal is not only to help Neighbors overcome immediate financial challenges but also to equip them with the knowledge, skills, and habits that lead to lasting financial independence.
To participate in the program, each Neighbor will complete four one-hour financial education classes offered by Self-Help Credit Union. Topics include:
- Personal finance fundamentals
- Understanding and improving credit scores
- How to purchase a vehicle wisely
- Planning for future homeownership
In addition, participants will meet monthly with a financial coach to develop a household budget, review their progress, and receive guidance when unexpected expenses or setbacks occur.
Developing strong financial habits takes time. Through education, coaching, and accountability, we hope to help our Neighbors build skills that will benefit them for years to come.
Participants who successfully complete all classes and coaching sessions, save consistently throughout the program, and remain current on their MICAH loan payments will receive a matching contribution of up to $600 toward their savings.
Increased Requests for Assistance Reflect Growing Financial Stress
During the second quarter, we experienced an increase in inquiries from individuals seeking assistance with rent, utility bills, legal expenses, and other urgent financial needs.
While The MICAH Program does not provide grants, we make every effort to connect individuals with organizations that offer the specific assistance they need. We are grateful for the many community partners who help ensure these individuals have somewhere to turn.
Understanding the Need in Our Community
The MICAH Program exists to help individuals with limited or damaged credit obtain affordable financing. Without programs like ours, many are forced to rely on lenders charging extremely high interest rates. We have seen Neighbors come to us carrying loans with annual interest rates exceeding 100%.
A report published in May 2026 by the Board of Governors of the Federal Reserve System highlights why programs like MICAH are so important. Looking specifically at households earning between $25,000 and $49,999 annually—many of whom fall within the A.L.I.C.E. (Asset Limited, Income Constrained, Employed) population—the report found:
- 61% experienced a major unexpected expense during the previous 12 months.
- 47% could not pay an unexpected $400 expense without borrowing money or selling something.
- 26% were unable to pay all of their bills in full during the previous month.
- 44% reported they rarely or never had money left over at the end of the month.
These statistics reinforce what we see every day: many hardworking families are only one unexpected expense away from a financial crisis.
Looking Ahead
As we move into the second half of 2026, our mission remains clear. We will continue helping Neighbors obtain affordable financing for unexpected expenses while expanding opportunities for financial education through our new Matched Savings Program.
We also continue to seek additional volunteer mentors. The number of people requesting assistance now exceeds the number of mentors available to support them. If you have a heart for helping others and can share your time and encouragement, we would love to hear from you.
Finally, we invite you to partner with us through your financial support. A $2,500 donation helps us expand our lending program. A $600 donation will help us grow the Matched Savings Program. All donations enable us to reach more Neighbors who are working toward financial stability.
Thank you for your continued prayers, encouragement, volunteer service, and generous support. Together, we are helping our Neighbors build brighter financial futures.
