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Savings Assistance Programs

Home Savings Assistance Programs

Getting a savings account

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:

  1. They are eligible for the Temporary Assistance for Needy Families (called FIP in Iowa) program at the time of application;
  2. 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.
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