United Way to match saved rebate money

Spokane County United Way has put up $20,000 to encourage low- and moderate-income taxpayers to save a portion of the tax rebates they will receive starting next month.

The money, said United Way President Tim Henkel, will be used to match up to $200 in rebate money recipients commit to a savings account. If the money remains in the account three months, and they attend five hours of financial classes provided by Spokane Neighborhood Action Programs, they will qualify, he said.

Participants must be Spokane County residents and qualify for earned income tax credits. In 2007, about 16 percent of those in Spokane County who filed federal income tax returns sought the credits. More than 800 taxpayers who had their returns prepared by AARP volunteers qualified.

Authorized in February, the rebates will return $600 to individuals and $1,200 to couples, with an additional $300 per child. Although intended to trigger additional consumer spending, Henkel said the checks will also create an opportunity to introduce the benefits of saving to a population that, even if willing, may not have the means to set aside money.

“These are folks who live pretty much paycheck to paycheck,” Henkel said.

Agency spokeswoman Janice Marich said many dream of squirreling money away for their children’s education or other long-term goals but cannot get started on their incomes.

“It’s about building those dreams,” she said. “This really shows people how to do things differently.”

The classes will be held at SNAP’s downtown office at 212 S. Wall; Emmanuel Lutheran Church, and the YWCA. Dinner and child care will be available at the church and Y.

“We’re trying to make the whole program as easy and as positive an experience as we can,” said Kerri Rodkey, who heads SNAP’s micro-enterprise program.

Americans are abysmal savers, she added, on average spending more than they earn.

To apply for the rebate match, call SNAP at (509) 456-7174. Rodkey said applications will be taken until all the United Way money is committed.

Henkel noted the United Way money could help as many as 200 families with $100 matches.

If more families finish the program, “That’s a wonderful problem for us to have,” he said.