WASHINGTON-The Senate passed S. 476, the CARE Act, last week, which provides incentives for individuals and businesses to make charitable contributions, improves disclosure of activities of exempt organizations, and aids low-income Americans in gaining financial security. CUNA and NAFCU have been following a provision that would create Individual Development Accounts, which provide limited matching funds for low-income persons. The bill would give for-profit financial institutions tax credits for offering the accounts, while credit unions would get a `tradable' credit for another entity that wanted to make the matching contributions, such as a sponsor or select employee group sponsor. "Our congratulations and thanks to the Senate for passing the Individual Development Account provisions in the CARE Act, S.476. IDAs are one of the most effective tools to help the working poor build assets and share in our nation's prosperity. They are ideally suited to be offered by credit unions, as they exemplify the credit union motto of `People Helping People.'" CUNA President and CEO Dan Mica said of the bill's passage.