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Table of Contents

Individual Development Accounts (IDAs)

How Financial Institutions can Invest in IDAs

Foundation Provides Base of Progress for the Mid South

Communities Unabridged: Leveraging Private Investment

Table

SCORE

Spanning The Region

Calendar

July

August

September


How Financial Institutions Can Invest in IDAs:

 

  • Provide matching funds for IDAs.
  • Contribute funds to support a community organization operating an IDA program.
  • Structure IDAs so that no account fees are charged.
  • Offer a market (or better than market) rate of interest on IDAs.
  • Offer other incentives for IDA depositors, such as no-cost checking, a waiver of minimum balance requirements in checking accounts, ATM services, and/or establish no-cost children's savings accounts for IDA participants' children.
  • Designate a bank employee to be the contact person for IDA participants.
  • Participate on an IDA advisory committee.
  • Present classes or seminars for financial literacy programs.