"Super" Savings Programs
“SUPER” SAVINGS PROGRAMS:
Power Savers Savings Account- A great savings account for you if you need a basic savings account so that they can receive your pay and conduct basic financial transactions, while rebuilding your skills in managing a savings account properly. Working with a Money$ense Counselor, you will develop an Action Plan to repay collections, overdrafts and other bills that are barriers to opening a deposit account elsewhere. Your will add money to your savings account generally through direct deposit. With good management of this account and attendance at Money$ense classes, you will become eligible for other Opportunities products and services.
SuperSaver Account-This savings account pays double the current savings rate and is a good choice for members who want to set aside money for a long term goal. Members must meet eligibility requirements (qualify for an Earned Income Tax Credit, fall below 185% of federal poverty level based on family size.) It is a great way to start saving today. You may enroll annually from January through May. You may access your savings in January of the following year. This is not a savings account for general use.
IDA (Individual Development Account) through Community Action Agency partners-These special savings accounts provide matched savings rewards when used for a home, education or to start a business. You must participate for 2 years, achieve minimum savings goals, attend financial education classes and can receive up to $2500 in matched savings if you meet goals.
Power IDA-This special savings account is targeted for members who need to pay off various collections, charge-offs and other delinquent debt which may be shown on your credit report. Often these debts are barriers prevent you from obtaining housing, low cost insurance and loans and even from obtaining jobs. Members who save a minimum of $200 receive a match that is used to pay off some or all of the debt. The member develops an Action Plan with a Money$ense counselor and attends at least 2 Money$ense classes to increase their financial skills. This is an excellent way to get yourself back on track. Apply today!
