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.

For more information, contact Ziomara Gomez | zgomez@lawrencecommunityworks.org.

Lending Circles

Lending Circles are informal arrangements between individuals who form a group and pool resources together to benefit each member of the group over time. These informal arrangements are common throughout the world and are known by different names and have varying structures. By partnering with a trusted local CDFI, Mill Cities Community Investments, LCW offers a similar peer lending model with additional structure and protection designed to help participants build savings and credit. Members of each circle attend monthly workshops, receive financial coaching and a loan (from peers) based on predetermined order and loan structure, and make loan payments each month. This program also offers a match up to $500 (based on meeting all program requirements).

For more information, contact Ziomara Gomez | zgomez@lawrencecommunityworks.org.

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.