II Business
Solutions Center
Our Other Sites
GuideStar Better Business Bureau St. Louis RCGA United Way Language Services

Financial Literacy and Technical Assistance

Financial literacy education and asset-building services are the gateway to economic self-sufficiency and integration for all people living in poverty, including immigrants. People living in poverty need to become "stakeholders" in our socio-economic system in order to move out of poverty. Acquiring assets is a key way to make that move.

Participants in the IDA program also learn about predatory lending practices through our Financial Literacy classes and become aware of financial opportunities and pitfalls. After achieving financial literacy and learning about sound saving habits, clients explore how starting a business would be of benefit to them.

We do not charge a fee for Development Services other than a modest program enrollment fee. Services are presently underwritten by a combination of public and private funding including a grant from the Office of Refugee Resettlement of the US Department of Health and Human Services.

Individual Development Accounts (IDA)

An IDA, or Individual Development Account, is a matched savings program offered through the United Way’s Greater St. Louis Asset-Building Collaborative. The program is designed to assist hard working families to build financial assets by providing the extra dollars and financial tools to help you save for their future.

The Assets for Life IDA is a matched savings account set up as a joint account between you and our agency. If the eligibility criteria are met, your IDA account will be matched two dollars for every dollar you save. Matched dollars will be held in a separate account until you are ready to purchase your asset. The program will match up to $3,000 (2:1 match rate) of your IDA savings over a 30-month period. The savings from an IDA can be used to:

  • To help purchase a home
  • To carry out home repair
  • To pay for post-secondary education or training
  • For small business capitalization
  • To purchase a personal vehicle

Since its inception, our IDA Program has helped more than 600 immigrant families with matched savings totaling upwards of $1 million.

Affordable cars are key to getting off public aid, study finds

Contact Information:

Nha Nguyen
nguyenn@iistl.org
314-773-9090 ext. 133

 

Click here to go to:Business Development Services
Peer Lending Program
Global Farms
II Community Development Corp