Achieve Your Financial Goals
Many Native individuals and families have used matched savings programs, also known as Individual Development Account (IDA) programs, to achieve their financial goals. These unique programs demonstrate the value of saving and provide hands-on experience in working to achieve a financial dream. Each matched savings program has different eligibility guidelines and program requirements. Please check with the facilitating organization in your area to see of you meet the application guidelines.
Cheyenne River Reservation
Four Bands Community Fund’s Mazaska K’sapa Nitawa (Your Money Wisdom) program helps participants work toward building an asset base and pattern of saving money with a matched savings program. Individuals can deposit $20-$50 per month for a period of at least six months and up to two years, and receive three dollars in matched funds for every dollar they contribute. The program helps participants achieve savings goals of starting a business, owning a home, or pursuing secondary education.
Crow Creek Reservation
Hunkpati Investments’ matched savings program helps participants save towards assets, such as a new home, a business, or education. Depending on the participant’s savings goal, he/she will receive $2.00 or $3.00 in matched funds for every $1.00 he/she contributes. Participants save for a minimum of 6 months up to two years and can walk away with up to $8,000 to put towards their asset-based savings goal. Matched savings program participants also complete financial skills and Credit When Credit is Due courses.
Pine Ridge Reservation
Lakota Funds offers the Lakota Tiwahe Family Asset Building Project, a program where low-income participants open a matched savings account to be used specifically for building assets. These accounts provide the capital, incentive and support necessary to move individuals and families towards homeownership, business development, or post-secondary education. The Lakota Tiwahe Family Asset Building Project has a 3:1 match, meaning Lakota Funds deposits $3.00 for every $1.00 a participant deposits. Participants can deposit up to $1,440, and Lakota Funds deposits up to $4,320, for a grand total of $5,760 to be used towards asset-specific purchases.