Savings & Credit Building
With these incentivized financial empowerment programs, we are guiding individuals and families through the creation of spending plans and savings habits while providing access to resources that will enable them to become financially stable and build assets.
Individual Development Accounts (IDA)
Whether you are dreaming of going back to school, starting a business, or buying a home, participating in one of our IDA programs could help you make that dream a reality. IDAs are incentivized savings plans designed for families who are willing to work hard to achieve their dreams. As a cohort (a group), participants save money and receive a match on their savings, as well as attend monthly financial literacy workshops on budgeting, credit repair, goal-setting, financial planning, and other relevant topics. Members attend a monthly peer support group, and receive ongoing support and individual counseling from LCW staff and each other.
Individual Development Account Info ENG and SPN
Credit Builder Plus Loans
In partnership with two local credit unions, this program is focused on building credit and savings. Participants are approved for a loan; the loan principal is kept in escrow and distributed at the end of the loan term. Participants make monthly payments, receive financial education and coaching, and earn a $500 match if they complete the program successfully.
