Matched Savings for Key Goals

“I signed up for and began saving into one of CVOEO’s Individual Development Accounts (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 program will match each dollar you save with another $2. If you save the allowed maximum of $1,000, you will get another $2,000 in match and have $3,000 at the end of 24 months.

In addition, the program enrolls you in Growing Money services to support you in saving and attaining your goal. 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.

With an Individual Development Account (IDA), you save for up to 24 months for one of the following goals:

  • Buying a first home
  • Getting education after high school
  • Starting or expanding a business

Want to learn more?  Click here to download the brochure.

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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 20,000 individuals