Founded in 2007 , the Women’s Achievement Network and Development Alliance (WANDA) is a privately funded non-profit that is successfully increasing the economic self-suficiency of low-income, single mothers in the San Francisco Bay area. WANDA provides education, networking and a structured 2:1 savings match program that is used by single moms toward an asset-based goal such as a home, retirement, or an education. This savings approach helps provide a way out of poverty because earnings are not simply consumed; they endure and can be passed on from generation to generation. Further, when a family owns assets, it has the means to survive economic hardship today and provide security for tomorrow.
WANDA has a proven record of success
Since its inaugural class, WANDA Moms have saved/invested over $750,000. Members of six graduating classes have already invested in first time homes, college educations, retirement savings and new businesses. The retention rate in the 3 year program is 90% and participants report higher personal levels of confidence and financial stability. The good practices are filtering to the next generation as well with close to 67% of the children of WANDA moms starting their own savings accounts. On average, moms increase their annual incomes by up to $14,000 and credit scores by 100 points after just one year in the program.
Key WANDA Elements
- Monthly seminars on topics including financial literacy, asset building, career advancement, college education options and a variety of life and business skills.
- Experienced and committed seminar leaders including local WANDA leadership circle members and other community experts across many fields.
- Mentoring and networking opportunities with WANDA leadership members.
- Participation in a physical and virtual community of like-minded ambitious and motivated single mothers.