Members Join Individual Development Account Pilot

- BREMERTON, Wash. (02/20/02) - Kitsap Community FCUsaid 26 members have signed up to participate in a pilot ofIndividual Development Accounts (IDAs) aimed at encouragingconsumers to save. Under the pilot program, the federal governmentmatches individual deposits dollar-for-dollar to encouragelong-term savings. In return, participants have to commit to usingthe proceeds to buy a home, pay for education or start a smallbusiness. The 26 IDA participants at Kitsap Community havecompleted an IDA training program so far, which included basicbudgeting and checkbook balancing. Participants are required totake part in the training while saving money through the IDA. Abill has also been proposed in the state legislature to providefunds for a similar program.