DES MOINES, Iowa -- The Iowa Credit Union Foundation has received a $10,000 grant from Prairie Meadows Racetrack and Casino through its 2007 Community Betterment Grant Program.
Grant funds will be used to support the Credit Union Family Partnership Project, which will make Individual Development Accounts available to qualified families through participating credit unions.
An IDA is a matched savings account where a participant saves for one of four specific purposes: down payment or closing costs on a first home, post-secondary education or job training, starting or expanding a small business, or purchasing a vehicle to commute to work.
"We are very excited to have received a grant from Prairie Meadows to support our matched savings program. Individual Develop-ment Accounts help working families leverage their savings toward the purchase of a long-term financial asset," said Marybeth Foster, ICUF executive director. "These funds will allow us to select our participating credit union partners and provide financial education to families and individuals in the program. Our goal is not only to help families save money but to give them the tools they need to better manage their finances for the long term."
The Iowa Credit Union Foundation was one of more than 190 organizations to receive funding from Prairie Meadows.
Since 1995 Prairie Meadows has contributed more than $362 million to promote education, economic development, agriculture, jobs and tourism in Iowa.
