Matched Savings for Tomorrow

The Matched Savings for Tomorrow (MST) program assists low to medium income individuals and/or households to acquire a productive asset through regular saving. 

 

Participants may save for any of the following purposes:

  • Down payment or closing costs for buying a first-time home

  • Post-secondary education for self or child

  • Business start-up costs

  • Purchase of a vehicle needed to travel to a job

 

Participants are required to make equal deposits to their designated MST savings account at least monthly and to save for a minimum of 6 months, up to a maximum of 24 months.  The MST program will match participants’ savings at a rate of $2 dollars for every $1 dollar saved, up to a maximum match of $2,000. 

 

In order to apply for the MST program, applicants must be at least 18 years of age and reside in Lancaster County.  

 

In order to be approved for enrollment in the MST program, applicants must:

  • Demonstrate household income at or below 80% of Area Median Income (AMI) for Lancaster County

  • Demonstrate the ability to set aside at least 5% of household net income per month to build an emergency savings cushion, in addition to saving for the asset to be acquired through MST

 

Applicants applying to save for first-time home purchase must have a credit score of at least 550 and a maximum debt-to-income ratio of 50% or lower.

 

Call 397-5182, ext. 151 for information on applying for the program.

 

Rodgers and Associates is the Lead Sponsor for the Matched Savings for Tomorrow program.

The Ann B. Barshinger Financial Empowerment Center for Lancaster County

Tabor Community Services is a 501(c)(3) nonprofit organization. A copy of the official registration and financial information for Tabor Community Services, Inc. may be obtained from the Pennsylvania Department of State by calling, toll free within Pennsylvania, 1-800-732-0999. Registration does not imply endorsement.

 

Open: Monday - Friday: 8 AM - 5 PM

308 E. King Street, Lancaster, PA 17602

Mailing Address: PO Box 1676, Lancaster, PA 17608-1676

Tel: 717-397-5182 | Fax: 717-399-4127

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Tabor Community Services is accredited by the Council on Accreditation
Tabor Community Services is a HUD Appoved Agency
Tabor Community Services is a member of the NFCC
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