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Creating Pathways to Prosperity
Lack of income means you don’t get by; lack of assets means you don’t get ahead. We believe in the power of saving. UIDAN helps lower wage working families build their personal safety net by providing a $3-for-$1 savings match and money management training.
Economic Mulitiplier Effect
Individual Development Accounts (IDAs) are matched savings accounts that enable lower-income families to build wealth, reach their financial goals and achieve economic independence. UIDAN creates new cycles of prosperity by providing a 3-to-1 match on the monthly savings of lower-income working families who are trying to buy their first home, pay for post-secondary education, start a small business, or obtain assistive technoligies devices for individuals with disabilities.
Financial Education and Guidance
Everyone can save. Some just need a boost—and access to a trusted financial institution. While the matched savings is the centerpiece of an IDA, the program has several other critical components including mandatory financial education and counseling, money management training, access to financial services, and asset-specific training related to the primary savings goal.
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Joel and Cindy, married for five years, are the parents of two children: a 3 year old daughter and a 1 year old son. They were raised in Davis County where Joel works for a national restaurant and Cindy works part time to augment the family’s income. They thought UIDAN was “too good to be true” but did some research and realized that an IDA would help them achieve a dream that seemed unattainable – owning their own home.
IDA Success Stories...
Click here to view and register for the required Financial Management Training classes.
Click here to for additional financial education training opportunities.
Click here to request a call back.
Follow IDA Investor Heather in her blog as she goes through the process of buying a home.
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