Matched Savings

Through an Individual Development Account (IDA) at a participating bank, you may qualify for up to a 2-to-1 savings match to use towards your housing goals.

Do you qualify?

  • Current or future resident

    of Wyandotte County

  • Income

    less than 200% of the federal poverty level (click here to check if you qualify)

  • Stay in program

    at least 6 months and hit goal within 3 years

  • Complete

    financial education course (click here for course list)

  • Deposit

    a minimum of $25 every month while in the program

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Save to buy a home

Click to start your application

Save to make repairs & improvements to your home

Save to make repairs or improvements to your home

Click to start your application

How It Works

 

Our matched savings program is designed to help provide you with the resources to reach your housing goals, whether homeownership, home improvement, or making important repairs to your home.

One
One

Step 1

Fill out an application for the program. You can fill out an application online by clicking here. You can download a printable copy of the application by clicking here

Two
Two

Step 2

Meet with a CHWC housing counselor to set your savings goal. If you are submitting a paper application, don't forget to bring your completed application and supporting documentation with you to your appointment.

Three
Three

Step 3

Open a deposit account with a participating bank or credit union.

Four
Four

Step 4

Take CHWC's financial counseling class.

Five
Five

Step 5

Make your monthly deposits. You must deposit a minimum of $25 every month. The total time span that you make deposits for a match can be anywhere between 6 months and 2 years. 

Six
Six

Step 6

After you have reached your savings goal, CHWC and your financial institution will work together with you to help you apply your matched savings to your intended use!

Frequently Asked Questions (FAQ)

How much can I get in matched savings?

You can save up to $2,000 over the course of 6 months - 3 years, for a total 2-to-1 match of up to $4,000. If you saved the maximum of $2,000, you would be eligible for $4,000 matched savings for a total ending account balance of $6,000.

What if I need to withdraw from the program before I meet my goal?

If you're in the program and need to pause making your monthly deposits, we can work with you depending on what your situation is. If you decide to permanently withdraw from the program before meeting your goal, all of the money you have deposited in your account will be returned to you.

What if my goal changes?

If you want to make changes to your savings goal while you are in the program, meet with your housing counselor to discuss your options.

Thank you to our program supporters!

Dehaemers Family Charitable Trust
Security Bank
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