Gateway Community Action Partnership’s Individual Development Account (IDA) program is conducting sign-ups for a program that offers matched savings for income eligible participants.

  The program offers participants the opportunity to save money and have those savings matched dollar for dollar and enhance a participant’s capability of saving for their future.

  For example, if a participant saves $4,500 during the 36-month period, takes part in personal finance and money management sessions and is saving for home ownership, post- secondary education or small business startup, that $4,500 will be matched by the program. By saving $4,500, the participant would have $9,000 in overall savings at the end of year. Participants must make a $10 minimum weekly deposit for a at least six months and attend economic literacy classes.

  Current or former Work First NJ or TANF recipients are now eligible to participate and having a minor child is no longer a program requirement. 

  Prospective Gateway IDA Program participants will learn about the importance of saving, money management, budgeting and financial decision making, debt management, taxes, banking services, basic financial planning and insurance as well as learn about first-time home buyers programs, down payment assistance, scholarships, entrepreneur training, credit repair and dealing with realtors.

  For additional information contact Demetrica Todd-Hunter at 856-451-6330 ext. 6742 or dtoddhunter@gatewaycap.org.