"I feel safer since I have a new door and locks on both storm doors, which I didn't have before. I also think my heating bill will be lower since I have a better fitting door."

Client in HRDC's Housing Rehabilitation Program

Savings Programs

 

Families Saving for Tomorrow
 
January  Newsletter
Download an application:
            Savings Application
 
            Scholarship Application
 
Case Managers and Outside Agencies- Refer a client to the IDA program:
            Referral Form
 
The “Families Saving for Tomorrow” program’s mission is to offer families and individuals the opportunity to improve their income earning and save their way toward a brighter future through Individual Development Accounts (IDAs). IDAs are matched savings accounts designed to encourage regular savings habits and investment in assets that increase in value over time. Account holders save a certain amount of their earnings each month for a defined period of time. For every $1 saved, they will earn a match of $3  (Ex. Save $1000 and receive $3000 match).
 
The total of their personal savings and the matched funding can be used to pay for expenses associated with buying a first home, purchasing a used vehicle, doing home repairs, attending college or vocational school, starting or expanding a small business, even to jump-start a savings account.
 
This financial incentive to save coupled with support, encouragement, and financial education is a great way to help families and individuals invest in their future and develop assets that increase in value over time.
 
Scholarships are also available for those pursuing educational goals including certificate programs, job training, or post-secondary education. Scholarship amounts vary from $500 to $5,000 and can be applied towards tuition, books, and supplies required for courses of instruction at an eligible educational institution. (Scholarships are only available for a limited time: July 2011 – June 2012.)
 
 
To learn more about these programs, please contact:
Hanna Pancheau
Asset Development Coordinator
Ph: 406.247.4765
Fax: 406.248.2943
  
TO APPLY:
Please submit a Savings Application  and/or a Scholarship Application along with verification of household income and benefits for the past 30 days (photocopy of pay stubs, food stamps, etc.). On the application, please indicate which program you would like to apply for. (Eligibility and match amounts vary per program.)

 

  •       *Home Ownership
  •       *Education / Job Training
  •       *Small Business Startup
  •       *Home Repairs
  •       *Vehicle Purchase
  •       *Savings Club – jump-start your Emergency Savings (save $250,
  •                                   match  $750)
  •       *Scholarship – grants up to $5,000  available
GENERAL ELIGIBILITY:
  •    Household gross income shall not exceed 200% of the Federal Poverty
  •    Guidelines.
  •    Applicant must currently have a source of earned income.
  •    Applicant must be age 18 or older.
  •    Applicant shall reside in Big Horn, Carbon, Custer, Musselshell, Rosebud,
  •     Stillwater, Sweet Grass, or Yellowstone County.
 
*Select programs also require the following qualifications:
  • Household gross income shall not exceed 185% of the Federal Poverty Guidelines.
  • Applicant must have a minor child currently living in the home.
  • Applicant must not be receiving TANF cash assistance benefits.
  • Applicant shall reside only in Big Horn, Carbon, Stillwater, Sweet Grass, or Yellowstone County.
 
Families Saving for Tomorrow programs are funded through Assets for Independence Federal Demonstration project, First Interstate Bank, the United Way, and other generous contributors. This project is funded in whole or in part under a contract with the Montana Department of Public Health and Human Services. The statements herein do not necessarily reflect the opinion of the Department.