Vermont Matched Savings

“I signed up for and began saving into a CVOEO Vermont Matched Savings account (formerly IDA) to help fund the purchase of a home. I also completed two Growing Money courses: Keys to Credit and Creating a Financial Future. I have saved regularly since and I’m on course to make the home purchase for my family of six. I’ve also worked with a Growing Money financial coach to obtain a low-deposit-amount secured credit card from New England Federal Credit Union to help increase my credit score before applying for a mortgage.” – Program participant

The Vermont Matched Savings program will help you save! For every dollar you save up to $1,000 by May 2022, CVOEO will give you an additional dollar. If you save $1,000, you receive an additional $1,000 -- for a total of $2,000. Can't wait until May 2022? Save $77 for just 13 months, and you can reach the full $2,000! Savings can be used for eligible expenses for starting or expanding your business, education after high school, or tools or training needed for work.

As part of the program, you will take Growing Money classes on budgeting, saving, and credit. You will also get to work with a financial coach 1:1 on your financial goals. When you are ready to spend your savings and match, we will support you in creating a written plan for approval, and you will provide us with financial quotes from vendors so we can send them the check.

To participate in the program, you must have earned income -- money you earn from a job or from your own business. Your household's income must be below these limits: 1 person = $25,520; 2 people = $34,480; 3 people = $43,440; 4 people = $52,400. More people in your household? Contact us.

Want to learn more? 
Take a look at our brochure or contact
 Gillian at 802-860-1417 x113 or gfranks@cvoeo.org

Back to Top

CVOEO addresses fundamental issues of economic, social, and racial justice and works with people to achieve economic independence.


 

Serving more than 10,000 households annually,
impacting the lives of over 23,000 individuals