Utah Individual Development Account Network available to help low-income individuals raise money
When it comes to saving for a house, education or small business, one Utah group is helping out. Consider it venture capital and education for low-income individuals.
Utah Saves™ - Start Small. Think Big.
The Utah Saves™ initiative is led by a broad based coalition of community partners and leaders who bring togethertheir influence, talent, time, and resources in order to empower and enable all Utahns to improve their financial situation.Today, more than 13,000 participants are saving for the purchase of a home, building an emergency fund, paying down debt and saving for college or retirement. Collectively, Utah Savers are saving a total $1.5 million every month!
Utah Saves provides financial resources, education, support, and appropriate products to individuals who wish to build wealth and increase their financial stability. The goal is to directly help people stabilize and improve their financial situation by providing the encouragement and support necessary to begin, or increase, their savings efforts.
A Utah Saver is any Utah resident who is currently saving toward a specific goal or agrees to begin working toward a savings goal such as: an emergency fund, home ownership, school tuition, retirement, or paying down debt. Utah Savers set a savings goal and try to save a specific amount each month toward their goal.
Utah Saves will support your Utah Saves site by:
Being an ongoing resource for ideas and support to maintain momentum created by individual workshops
Maintaining Saver progress reports
Identifying and arranging for financial education workshops
Providing a list of enrolled savers from your organization upon request
Utah Saves offers financial coaching, tools and resources including:
Access to IDA matched savings accounts
Free tax preparation and filing services
Free seminars on a variety of personal finance topics
Connecting unbanked individuals to mainstream financial products and services
One-on-one mentoring, financial coaching, and ongoing support
Toll Free Moneyline. Savers can call the Moneyline at 1-800-350-9899 for free information, referrals and finanical counseling. Wealth Coaching services are provided by AAA Fair Credit Foundation.
Utah Saves is directed and supported by a broad-based coalition of community partners bringing their talent, energy, influence, and resources to empower all Utahns to build lifelong financial security. Everyone is invited to take part: nonprofits, financial institutions, employers, government agencies, faith-based groups, and so on. Founding partners include AAA Fair Credit Foundation, United Way of Salt Lake, Utah State University Cooperative Extension, and 211 Information & Referral.
