IDA

The IDA component encourages an attitude of savings for our FSSP Participants. Families with earned income are eligible for up to $2,000 in federal-matching funds as an incentive to save toward home ownership (A four-to-one match), or post secondary education expenses (a two-to-one match). This FSSP component was made possible in part by a generous $25,000 donation from Sunshine State Credit Union to match the $35,000 federal grant. The Sunshine State Credit Union also manages the accounts, free-of-charge, as required by federal guidelines.

During the 2004-2005 year, the Eligibility Workers identified and worked aggressively with FSSP participants that were motivated and dedicated to saving towards homeownership or post secondary education, to move them toward financial stability and enrollment in the IDA program. To date, twelve (12) FSSP participants have submitted applications and were enrolled for the 2004-2005 program year. All twelve participants are now saving towards becoming homeowners.