DES MOINES – A state stimulus bill signed by the Governor last month includes $250,000 to be used as matching funds for nine credit unions to develop individual development accounts.
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Low-income savers can get a match of $4,000 per family and $2,000 per individual with funds they obtain either on their own or through a non-profit organization. IDAs can be used to buy a home, save for post-secondary education or to finance a small business.
The participating credit unions are: Affinity CU, Ascentra CU, Cedar Falls Community CU, Community 1st CU, Dupaco Community CU, Dutrac Community CU, Employees CU, Linn Area CU and Veridian CU.
