- Available in Jackson, Lenawee and Hillsdale Counties
- Matched Savings Program for asset development
- Savings can be used to purchase home (first time buyer), go back to school (post-secondary ed), start/expand small business
- Participants must save a minimum of $20 per month in a joint account with CAA as co-signer (no withdrawals without agency staff signature)
- Accounts are held at American 1 Federal Credit Union in Jackson and Hillsdale Counties and TLC Credit Union in Lenawee County
- Match rates – Home $3: $1, School and Business $2: $1
- Maximum amount to be matched is $1000
- Time frame of participation – minimum 6 months, maximum 3 years
- Education Requirements: All participants attend Financial Management (7 classes), Home purchase attends homeownership training, small business works to develop a business plan, and education works with IDA manager to complete education plan
- Willingness to address credit issues crucial for participation
- Assets can be purchased anywhere – does not have to be a specific city or even Michigan
- Match money never goes to participant – check is written directly to vendor (title company, business supply company, etc.)
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