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Individual Development Accounts

Dreams of going back to school...

Dreams of starting a business…

Dreams of buying a home…

Could 4,800 help you achieve some lifelong dreams?

Individual Development Accounts (IDAs) are incentivized savings plans designed for families who are willing to work hard to achieve their dreams. As a cohort (a group), participants save money and receive a match on their savings, as well as intensive financial literacy training and peer support.

More than just a financial literacy and savings program, IDAs enable eligible residents of our city to realize their dreams of homeownership, higher education, or starting their own business. Participants attend monthly financial literacy workshops, where they study budgeting, credit repair, goal-setting, financial planning, and other relevant topics, as well as receive asset-specific training. Members attend a monthly peer support group, and receive ongoing support and individual counseling from FAB staff and each other.

Need more information?

For more information please contact:

Arleen Zorrilla
FAB Administrative Assistant

Our House Campus
168 Newbury St
Lawrence, MA 01841
978.685.3115 (main)
978.722.2626 (direct)
E: azorrilla@lawrencecommunityworks.org

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