Community Reinvestment Programs

Investing in Financial Futures in Snohomish County

Program Overview

The Community Reinvestment Program (CRP) is a statewide effort designed to strengthen the workforce and economic development across Washington. Local workforce boards are working to implement key components of this project, including direct financial support to participants, support to help businesses grow and thrive, and Matched Investment Savings Accounts (MISAs) that help individuals build financial security. These efforts are designed to create meaningful pathways to economic stability and self-sufficiency for those most in need. The program has a specific emphasis on serving EcSA participants from the Governor’s WIOA priority populations and ALICE (Asset Limited, Income Constrained, Employed) households, with particular focus on Black, Tribal, Latine, Asian, Hawaiian and Pacific Islander Washingtonians.

December 2023-June 2025
12% increase in job seekers served from Black, Latine, and Tribal communities over a 1-year period

Programs under the CRP umbrella include

Matched Investment Savings Accounts

Matched Investment Savings Accounts (MISAs) aim to support participants' future asset-building or investment goals. The MISA Program is currently fully enrolled.
MISAs are custodial accounts, managed by Local Workforce Development Boards (LWDBs) and/or their subrecipients, to provide a 1:1 match for participants' savings, with a maximum of $10,000 in matched funds to enhance financial self-sufficiency. Participants can make withdrawals for approved purposes once they meet personal finance education and coaching requirements and adhere to their Savings Plan Agreement. Emergency withdrawals are permitted under specific circumstances after other support options have been explored. Each participant must collaboratively create a Savings Plan Agreement to guide their involvement in the MISA program with their case manager and complete the required financial coaching before they are eligible for non-emergency withdrawals. Participants can make a withdrawal for the purchase of a qualified asset or investment. Emergency withdrawals are permissible only after all other support options, including State EcSA and WIOA resources, have been fully explored.
Participants with MISAs prior to July 1, 2025 : All participants who opened a MISA custodial account and made at least one deposit prior to July 1, 2025, may, at LWDB discretion, be maintained under previous program terms of a 2:1 match rate up to $30,000 in savings ($10,000 in individual contribution and $20,000 in matched contributions). Participants must comply with all other terms of the revised program and may not increase the amount of their original savings plan.

Career Accelerator Initiative

The Career Accelerator Incentive program provides financial support to participate in career development assistance programs. These incentives, in the form of monthly payments of up to $1,000, are designed to help participants achieve economic stability by supporting them in obtaining training, credentials, measurable skills, employment and self-sufficient wages. These incentives are designed to reduce financial barriers and encourage consistent progress toward long-term employment success. The Career Accelerator Incentive program has a specific emphasis on serving EcSA participants from the Governor’s WIOA priority populations and ALICE (Asset Limited, Income Constrained, Employed) households, with particular focus on Black, Tribal, Latine, Asian, Hawaiian and Pacific Islander Washingtonians – populations that face systemic barriers to economic opportunity. By prioritizing these communities, we aim to close equity gaps and expand access to tools that foster financial independence and mobility.

Business Support

In 2025, the funds provided by EcSA Business Support are intended primarily to support Community Reinvestment Businesses defined as Black, Tribal, Latine, Asian, Hawaiian, or Pacific Islander-owned or operated businesses and individuals from these communities who are starting a business, with focus on EcSA participants who want to start a business or businesses who employ or plan to hire EcSA participants. While other populations may be served with the funds, LWDBs must make significant efforts to serve these target populations. Areas should be aware that the number of customers served from these target populations is being tracked through regular reports to the Washington State Department of Commerce and the Governor’s Office of Equity, which expect to see significant growth in the number of people served from Black, Tribal, Latine, Asian, Hawaiian, and Pacific Islander populations, as well as strong demonstration of benefit for EcSA participants.
In Program Years 2023-2024, Snohomish County invested a number of EcSA Community Reinvestment Program Business Support programs. Snohomish County utilized Business Support funds to invest in EcSA participants with a stated goal to start or scale a business. A total of $225,000 has been invested in nineteen (19) small businesses. We look forward to sharing the impact of these grants on these exciting ventures.
The PY25/26 EcSA Business Support Program is now closed, due to exhaustion of funds.

Report to the Community

Through targeted programs like the Matched Investment Savings Account (MISA) and Career Accelerator Incentive program, we are helping residents, especially those from priority populations, gain access to savings tools, career incentives, and lasting financial empowerment.

Over 93% of MISA program participants identified as Black, Latine, and Tribal communities in Snohomish County. Participants in the program have used these funds to support homeownership, pursue post-secondary education and training, purchase vehicles and computers, launch or grow small businesses, and cover essential living expenses.

As we reflect on the past year and look ahead to the continuation of this program in the coming months, Workforce Snohomish will be releasing a series of comprehensive data reports and program insights. We will continue to share information on the EcSA/CRP program and develop this site to serve as a trusted source of information moving forward.

We remain deeply committed to listening to participant experiences and continually improving our programs. For general inquiries regarding MISA or EcSA please contact crp@workforcesnohomish.org