Guide to Designing an Individual Development Account Project

Posted by Alexandra Kielty - On March 07, 2014 (EST)

Assets for Independence Demonstration Program is sponsored by the U.S. Department of Health and Human Services (HHS), Office of Community Services. The AFI program awards grants to organizations seeking to improve the lives of low-income communities through accumulation of assets using a matched savings program, provision of financial education, and other asset-building services. HHS has developed a guide that provides comprehensive instructions and guidelines on how to successfully plan, implement and request an Assets for Independence (AFI) award for individual development account (IDA). ADI projects help low-income and working families build their assets, increase their economic security and plan and save for the future.

Asset building means change. It offers new tools to reduce poverty including matching savings, financial education, and asset attainment – all change behavior that diversify the resources needed to handle life’s emergencies for low-income families.

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Modified On : March 07, 2014
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