Midas Collaborative: A Quarter Century of Building Financial Futures by Luisa Muñoz
Originally launched in the late 1990s under the Allston Brighton Community Development Corporation (CDC), Midas was created to manage matched savings programs that promote financial stability across Massachusetts. Recognizing that many residents were not yet ready for homeownership, CDC leaders prioritized financial education—helping participants build credit, reduce debt, and strengthen financial habits. Matched savings provided the training and financial incentives needed to prepare them for homeownership and long-term asset-building.
Today, Midas continues to lead with innovative approaches to financial capability, championing matched savings accounts that encourage financial literacy and asset-building. Since its founding in 1999, Midas has supported approximately 7,000 individuals through match savings programs, with 600 participants actively saving today. In 2024, Midas served seven Matched Savings Programs statewide. Among savers 74% of participants identified as female, 80% identified as BIPOC, and 70% lived in an immigrant rich area in metro-Boston or a Gateway city. In 2025, Midas is committed to expanding their reach to support organizations in Central and Western Massachusetts.