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Creating Pathways to Prosperity
UIDAN breaks the cycle of poverty by matching the savings of low-wage workers and helping
them invest in assets like homes, small businesses and education -- creating a cycle of prosperity
across generations.
Matched Savings Accounts
Through UIDAN’s 3-for-1 matched savings account program, known as Individual Development Accounts,
or IDAs, low-wage workers put aside a portion of their monthly income and participate in ongoing
required financial education. They can save up to $1,500 and earn a 3:1 match for every dollar they
save, yielding a total of $6,000 to invest in a home, micro-enterprise, or higher education. These assets
help individuals and families become financially self-reliant.
Financial Education Training
While the match savings is the centerpiece of an IDA, the program has several other
critical components including fundamental money-management training, personal financial coaching
and asset-specific training. Participants are required to attend 8 hours of free
money-managament education training which focuses on spending behaviors, goal setting,
debt management, budgeting, saving, consumer awareness, investing, and asset accumulation
and preservation. Asset-specific training is also required for homebuyer education
and business plan development.
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JN is a 35 year old single mother with an 11 year old child who
worked two jobs but still fell well below 200% of the federal
poverty level. She completed basic financial management classes
and asset specific training in all of UIDAN’s three approved asset
areas before deciding to return to college. With the help of UIDAN
and scholarships taking care of tuition, she earned a 3.85 GPA in
her first semester.
More Saver Success Stories...
Click here to apply for an IDA now.
Click here to view and register for the required IDA Financial Management Training classes.
Click here to for additional financial education training opportunities.
Click here to have a UIDAN account manager contact you.
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