CAAB on TV to Discuss the Economic Impact of IDAs in the Greater DC Area
At the invitation of Comcast Newsmakers, CAAB's Director of External Relations, Joseph Leitmann-Santa Cruz, was interviewed by Yolanda Vazquez on CAAB's Matched Savings Program and Individual Development Accounts (IDAs). To watch the interview, please visit http://bit.ly/1c9xWEj
CAAB’s Matched Savings Program is a savings program to assist low- and moderate-income individuals in the Greater DC Area achieve their financial dreams.
CAAB’s Matched Savings Program assists residents of the Greater DC area to save money for post-secondary education, buy a home or start or expand a business.
IDAs are available for eligible residents of the Greater DC Area who meet income guidelines and other program requirements. CAAB raises funds from the federal government, local governments in the Greater DC Area, foundations, and individual donors to match funds saved by participants in their IDAs.
Since 1997, more than 2,000 individuals have enrolled in CAAB’s Matched Savings Program. Those participants in CAAB’s Matched Savings Program who successfully reached their savings goals went on to invest in their chosen asset: investing in first homes, post-secondary education, or starting or expanding their small business. These hard working individuals and families have saved over $1,100,000 in their accounts and earned over $3,500,000 in matching funds.
In total CAAB and the participants in CAAB’s Matched Savings Program have invested over $4.6 million in the economy of the Greater DC Area.