Federation Offers Technical Assistance to New Applicants

(December 18, 2007 – New York)  Assets for Independence (AFI), a program of the U.S. Department of Health and Human Services Office of Community Services, has announced $19 million in matching grants available for organizations that wish to start or expand Individual Development Account (IDA) programs, and has established two application deadlines: January 15, 2008 and March 25, 2008.

The National Federation of Community Development Credit Unions (the Federation) is working with AFI to provide technical assistance to all prospective grantees.  The Federation’s goal is to help expand the diversity of organizations that participate in AFI IDA programs, and AFI has already identified credit unions as a special target group because of their commitment to serving low-income communities and people of modest means. 

“Credit unions have always been dedicated to building assets and many already run efficient and effective IDA programs,” said Federation President and CEO Cliff Rosenthal.  “We’d like to see even more credit unions participate and we’re thrilled to be working with AFI to help make that happen.”

IDA programs help eligible low-income individuals to build savings that can be used for homeownership, business capitalization or post-secondary education and training.

A copy of the full notice of available funding issued by AFI is available online at: http://www.acf.hhs.gov/grants/open/HHS-2008-ACF-OCS-EI-0053.html.

Credit unions that would like to learn more about AFI IDAs and the new grant opportunities may contact the Federation or the AFI Resource Center at the numbers listed below:

 © 2007 National Federation of Community Development Credit Unions.