About Individual Development Accounts (IDAs):

IDAs are matched savings accounts designed to help low-income families accumulate a few thousand dollars for high return investments in education or job training, home-ownership, or micro-enterprise.  IDA participants are at, or below, 200% of the poverty level ($31,020/yr for family of two in 2013).  The goal is for participants and their families to change their attitude and relationship to money. Participants complete financial management classes and training related to their asset goal while saving regularly in their IDA. Their savings of up to $1,000 are matched at a typical ratio of 3:1 for a home purchase and 2:1 for post-secondary education/job training or to start/expand a small business. Rates may vary depending on program site and funding sources.
An IDA is more than down-payment assistance, small business fund, or scholarships; an IDA provides direct services such as financial management, counseling, coaching, and asset retention classes to participants and their families, allowing them to make the changes required to build a more financially stable and self-sufficient future. IDAs facilitate economic development for families and for the greater community . . . Read More: http://michiganida.com/about/

For Savers
Thank you for your interest in the Individual Development Account program! If you are wishing to save for a  first-time home, post-secondary education or small-business expansion or start-up, please click below for more information about program eligibility . . . Read More: http://michiganida.com/for-savers/

For West Michigan Area:
Inner City Christian Federation
920 Cherry Street SE
Grand Rapids, MI 49506
Phone: (616) 336-9333
Fax: (616) 336-9323
http://www.iccf.org/ownershipopportunities.htm

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This informational article brought to your attention by Nate Bialik of Bialik Real Estate. When you’re ready to buy or sell your home, please consider putting our team at Bialik Real Estate to work for you. Thank you! Call or Text Nate today: 616.710.1220, clientcare@bialikrealestate.com. See our Featured Properties.