New Century Individual Development Account Program
The New Century IDA program uses an asset-building approach to help working families in Forsyth County gain financial independence through home ownership. Consumer Credit Counseling Service is the primary provider of Financial Literacy & Counseling for participants in this program. If you are a resident of Forsyth County and thought you could never own a home, think again!
Program Components
The program offers three basic components for participants, all free of charge:
A. Financial Literacy Training
(Nine Month Course, once a month for about two hours)
B. Savings Match into Individual Development Account
(Your savings will be matched twice for triple your money!)
C. Homeownership Training and Search
(A 2-day course on Home Ownership basics, and the support to find the right home for the participant)
Facts:
- One-third of American households have zero or negative net personal assets, leaving them one illness, divorce, or accident away from crisis.
- Furthermore, 20% of the nation possesses 90% of all net assets.
- Experiencing "The American Dream" of owning a home for one's family is the best way to build appreciable assets and begin to destruct the cycle of long-term poverty.
500 new homeowners in our community means more to us than just to those individuals going through the program. It will mean an increased tax-base, a more stable workforce, more investment in the community by employers, and more civic participation and hope in the long-term.
