About the Rainy Day Savings Program

Most financial emergencies students encounter can be addressed with just $500 in a savings account. We know this from meeting with hundreds of students who have faced financial emergencies.  Most students (and many Americans!) don’t have $500 set aside to cover an emergency.

Last year, we gave students a total of $12,625 to boost their emergency savings! Currently, 661 active savers have a collective balance of $472,429. That’s an average balance of $714! We’re ready to help you boost your emergency savings! With emergency savings set aside, you’ll experience less stress when a car repair, reduction in work hours, or surprise dentist visit threaten to throw you off course.


To be eligible to participate in the Rainy Day Savings Program, you must:

  1. Be enrolled in at least six credit hours at Austin Community College (ACC) in fall 2022
  2. Plan to enroll in at least six credit hours at ACC in spring 2023.
  3. Be seeking a degree or certificate at ACC.
  4. Not have participated previously in the Rainy Day Savings Program at ACC.
  5. Be 18 years old or older
  6. Have a valid driver’s license, state ID, or passport

Adult Education students: You must meet numbers 4, 5, and 6 to be eligible to participate.


To receive your $150 deposit into your emergency savings account at University Federal Credit Union, you must:

  1. Attend mandatory webinar “Introduction & Orientation” Friday, Nov 4 (12 – 2 p.m.)
  2. Attend mandatory webinar “Budgeting & Savings Strategies” Friday, Nov 18 (12 – 2 p.m.) 
  3. Complete a one-on-one meeting with your Leader to open your savings account (see “Your UFCU account” below for more details) by November 18
  4. Complete a one-on-one session with a financial coach from MOSAIEC or Foundation Communities by December 9
  5. Complete your 2023/2024 FAFSA by December 9

Your UFCU Account

At your one-on-one meeting with your Leader, your leader will help you open a new savings account at University Federal Credit Union (UFCU). The savings account is opened in your name. Only you have access to this account. There are no monthly fees and the accounts do earn interest. You must maintain a balance of at least $5 in your account to keep it open. Here are more details about UFCU’s savings accounts.  If you already bank with UFCU, great! We’ll open a *new* savings account for you for purposes of the Rainy Day Savings Program. 

Once your account is open at UFCU it’s time to start saving! You can make deposits into your UFCU account online, in person at any UFCU branch, or at shared-branch credit unions.  Your financial coach can help you set up a savings plan so you reach your savings goal.  

Receiving Your Incentive

We’ll deposit $150 into your UFCU account when you’ve met all program requirements (see “Requirements”) to give your emergency savings a boost. 

Financial emergencies

The money in the account, including money you’ve deposited and cash incentive you’ve earned, can be used when you have a financial emergency.  You may withdraw and use your funds at any time. We will never prohibit you from withdrawing your funds; however, we appreciate it when students let us know before they make a withdrawal. Many times there are other ways we can help you meet your financial emergency while preserving the money you have worked so hard to save!

Ready to apply?

The application for fall 2022 is closed. Add your name to this notification list to receive an email when the application reopens for spring 2023.


Connect with the Student Money Management Office: [email protected] 

Promotional flyer

ACC faculty & staff, please share this flyer with your students!

Thank you!

Thank you to University Federal Credit Union for holding the savings accounts and funding incentives, and to Trellis Foundation for providing funding to support programming and student incentives.

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