LUBERT IDA PROGRAM
When thinking long-term, it can be hard to envision actually reaching an end goal. United Way knows that sometimes all someone needs is a little support. Through our Impact Fund and the Lubert IDA Program we do just that.
The Lubert IDA Program is a savings program that helps working individuals save for post-secondary education or their first home; assets that will help secure their long-term financial stability and security. By matching the investments of participants, we help them to establish a pattern of regular saving. We also provide participants with financial education, covering topics such as establishing good credit, budgeting and long-term money management skills.
Since its inception in 2002, nearly 400 individuals have successfully completed the Lubert IDA Program.
How it Works
- For every $1 saved toward education expenses, United Way will match $4. IDA participants can save up to $1,000 which is eligible for $4,000 in matching dollars for a total of $5,000 toward post-secondary education.
- For every $1 saved toward home purchase, United Way will match $2. IDA participants can save up to $2,000 which is eligible for $4,000 in matching dollars for a total of $6,000 toward the purchase of a first home.
Homeownership is a primary means through which low-income households build wealth.