DES MOINES, Iowa — The Iowa Credit Union Foundation, together with Coopera Consulting–a subsidiary of the Iowa Credit Union League–has secured more than $425,000 from an anonymous foundation to establish the first credit union Individual Development Account savings program in Iowa.
The IDA program, called The Credit Union Family Partnership Project, will partner with selected Iowa credit unions for a three-year pilot to provide lower-income Iowans an incentive to develop savings habits in pursuit of home ownership, higher education, or the start-up or expansion of small business.
IDAs are matched savings programs designed to build assets among low-income families. After saving for a set period, the savings will be matched if the funds are directed toward first-time homeownership, higher education or vocational training and the start up or expansion of a small business.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
