These are stories that are unfolding for people in communities across America, but with assistance from the American Express Economic Independence Fund, their situations are improving.

Through the American Express Foundation, the Fund recently granted $1 million to 37 nonprofit organizations across the country in partnership with the National Endowment for Financial Education (NEFE), a non-profit organization dedicated to helping Americans acquire the information and skills they need to take control of their personal finances. The fund targets grants to community organizations specifically serving underserved populations, such as immigrants, individuals moving from welfare to work, newly employed and young workers.

"American Express' mission is to help people achieve their financial objectives, especially financial independence. Clearly, education is the first step," said Jim Cracchiolo, chairman and CEO of American Express Financial Advisors. "The American Express Economic Independence Fund helps empower individuals across America who need help taking control of their financial future."

Cracchiolo said working with community-based organizations is critical because local organizations know their constituents' financial needs and how best to give them the knowledge and the tools to meet them. Plus, the structure of the Fund enables American Express' network of 12,000 financial advisors to volunteer their knowledge, serving as mentors or teachers.

"Our goal for the Fund is to help people make smarter financial decisions for life," Cracchiolo said. "Getting this kind of education to people at pivotal times in their lives is key to developing lifelong, healthy spending and savings habits. It can mean the difference between living on the edge and taking the first steps toward saving for a car, a house or a child's education.."

While the projects that received funding this year varied widely, each came from community-based non-profit organizations seeking money and materials to incorporate financial education into existing services. As a result of the $1million grants this year, the following lives will be touched:

• Low-income people with mental illness in Massachusetts will learn how to avoid predatory lending arrangements as they enter the workforce. Employment Options, Inc. will teach basic banking, budgeting, recordkeeping and saving, along with loans, insurance and investments.
   
• Immigrant women in Oakland will gain an understanding of American banking and financial systems to become self-sufficient and move their communities out of poverty. Classes in financial terminology, personal budgeting, bank accounts and financial planning will be taught in participants' native languages to ensure understanding and retention.
   
• Women who have left prostitution in Chicago will become better equipped for long-term success in their new lives. Genesis House will add a financial education component to its ongoing programming, teaching women about managing credit, saving, spending and housing.

The American Express Foundation first partnered with NEFE in 1999 on a pilot project which became the Economic Independence Fund. Since that time, the American Express Economic Independence Fund has provided $2.65 million to more than 100 community organizations in 45 states.

Registered investments and financial planning services are offered through American Express Financial Advisors Inc., Member NASD. American Express Company is separate from American Express Financial Advisors Inc. and is not a broker-dealer.

NEFE is a nonprofit foundation dedicated to helping all Americans achieve financial well-being. For additional information about the National Endowment for Financial Education and to locate self-help financial education materials, log on to the foundation's Web site at www.nefe.org.

The American Express Foundation was created in New York in 1954 and is funded by the American Express Company and its business units, including American Express Financial Services. The Foundation makes grants around the world under three themes: Economic Independence, Community Service and Cultural Heritage.

American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, financial planning, business services, insurance and international banking.