Creating Assests, Savings & Hope (IDA) Program
What is an IDA?
An IDA is a special savings account. You can save up to $1,000 (up to five years) and your savings will be matched (4:1, e.g., $4 for every $1 you save/program maximum of $4,000). After you finish the program you could have $5,000 for one of the following:
- Home Ownership
- Small Business Capitalization
- Higher Education/Job Training
- Vehicle (if needed for employment)
What do I have to do to be part of the IDA program?
You must make a commitment to complete the IDA program. The program requires that you:
- Commit to a Savings Plan & Working with a Case Manager
- Attend a Financial Education Course
- Use your savings and match for one of the allowable purposes
Who is eligible to join the IDA Program?
Eligibility Criteria:
· Resident of St. Charles Parish
· At least 18 years of age
· Must have at least one source of “earned income” (full, part, or self)
· Must either be married or have at least one minor child in the household
· Must be at or below 200% of the poverty level
o Family Size 2 $29,420
o Family Size 3 $37,060
o For each additional person, add $7640
Where can I learn more about the IDA Program?
To find out if you are eligible for the Program or to learn more:
Call Kacy Kernan at (985) 331-9063 or Charisse Sorapuru (985) 785-2113
Come to an Orientation Session at St. Charles Community Health Center, 843 Milling Ave., Luling, LA on Wednesday, August 24th @ 6 pm.