The vision of a three legged stool is often used to signify that something has a stable base. If you sit a little bit off center on the stool, you won’t fall over, and you’ll have time to right yourself and get back in balance.
Just like that stool, household financial resiliency needs to be set on a stable foundation of financial capability, good credit, and savings. To date, Innovative Changes has been helping people build their financial capability with in touch education, workshops, seminars and coaching sessions. Our responsible small dollar loans and credit building program help people establish solid credit behavior and grow their credit scores. Our education and loans have always had a savings component, from the latest budgeting tool to receiving a security hold back when a loan is paid off. Now, we are thrilled to offer a matched savings product to help people pay for post secondary education.
To mark America Saves week, Innovative Changes announces that we will be providing Individual Development Accounts (IDA) to foster goal oriented savings throughout our participant base and the community. Through funds awarded by Neighborhood Partnerships and CASA of Oregon, we will provide matched savings for those aiming to further their careers and household resiliency by pursuing higher education. We are also partnering with Mercy Corps Northwest to provide the financial education for their IDA savers from the Re-entry Transitions Center.
The IC$ IDA program offers a 3:1 match for those saving to attend an institution of higher education. Our program is the only education IDA open to the public (although we suspect our spots will go fast) and participants must meet IDA criteria specified on our website as well as attend an IDA orientation to be eligible to apply. The IDA orientations will be on Tuesday, May 15, 2012 from 5:30-7:00pm . To register for one of these orientations click here. For more information on our IDA program please visit our website or contact Talia, firstname.lastname@example.org.