January 15, 2002
INFORMATION MEMORANDUM
AoA-IM-02-01

TO :	STATE AND AREA AGENCIES ADMINISTERING PLANS UNDER TITLE III AND TRIBAL ORGANIZATIONS ADMINISTERING PLANS UNDER TITLE VI OF THE OLDER AMERICANS ACT OF 1965, AS AMENDED

SUBJECT :  First Accounts

LEGAL AND RELATED : Older Americans Act, As Amended

REFERENCES:  Section 102

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The purpose of this memorandum is to provide you with information regarding a funding opportunity being offered by the U.S. Department of the Treasury. First Accounts is an effort that provides financial resources to develop and implement programs to expand access to financial services for low- and moderate-income individuals who currently do not have an account with an insured depository institution or an insured credit union. The Treasury Department has made $8 million available to fund this important effort.

First Accounts grants are available to a wide range of eligible entities including, but not limited to, insured depository institutions, insured credit unions, nonprofit organizations, states, local governments, Indian tribal governments, and faith-based organizations. A Notice of Funds Availability was published in the Federal Register December 27, 2001. The deadline for applications is March 20, 2002. The application and additional information is available on the First Accounts web site, www.treas.gov/firstaccounts. (Off Site)

I would encourage the aging network to explore this funding opportunity as a way of assisting individuals, especially older persons, who currently do not have an account with an insured financial institution.

EFFECTIVE DATE : Immediately

INQUIRIES TO : Regional Administrators on Aging, DHHS regional offices

ATTACHMENTS : None

Josefina G. Carbonell
Assistant Secretary for Aging