Savings Assistance Programs
Home Savings Assistance Programs
Credit Union Family Partnership (CUFP)
The CUFP Individual Development Account Program (IDA) offers matched savings accounts for families with limited resources who meet income-based criteria. These matched savings accounts are connected to services such as financial education and home buyer education to help individuals and family acquire a home.
Three credit unions in Black Hawk County hold and manage the IDA’s and establish a relationship with each participant to monitor his or her progress towards financial independence.
A person is eligible to participate in the CUFP IDA program if they meet one of the following two major criteria:
- They are eligible for the Temporary Assistance for Needy Families (called FIP in Iowa) program at the time of application;
- They meet both of the following two sub-criteria
- Their household income is either less than twice the Federal Poverty Limit at the time of application or within Federal Earned Income Tax Credit limits.
- Their household net worth was less than $10,000 at the end of the calendar year that preceded at the time of their application.