C. E. F. S. Individual Development Account (IDA) Program
SAVE TO PURCHASE A FIRST HOME, START A BUSINESS, OR GO TO COLLEGE!
FOR EVERY DOLLAR THE CLIENT SAVES IN THEIR IDA SAVINGS ACCOUNT THE CLIENT WILL RECEIVE TWO DOLLARS!
Here are the criteria for the program.
- must meet current income guidelines
- must be working at least part-time and be employed at least 3 months prior to entering the program
- must be willing to attend at 10-hour financial literacy class and a 6-hour asset specific class
- the client may save for a maximum of 4 years depending on when the client is accepted into the program...length of participation is based on an individual savings plan and agreement
- the client may save anywhere from $10 to $100 a month, but savings must be made consistently each month...the client may also use their tax refund or earned-income tax credit once per year to help reach their savings goal
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written consent for a credit report will be required after acceptance into the program...this is done at no expense to the client
To fill out a prescreening contact your local C.E.F.S. Outreach Office.
For further information please contact Kristie at (217) 342-2193 extension 150.
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