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Matched Savings Program
Cooperative Federal provides low- and moderate-income members with opportunities to build assets and achieve financial goals, using "Individual Development Accounts," or "IDAs." We offer IDA for 4 different purposes:
- First-Time Homebuyer IDA: Up to $9,500 in downpayment and closing cost assistance for people who are buying a home for the first time, or who have not owned a home in the last 3 years.
- Small Business IDA: Up to $2,000 in grants for working capital to help start or expand a small business.
- Higher Education IDA: Up to $2,000 in grants for tuition, books, supplies, or living expenses related to college or professional certification. This program is full - now taking names for the waiting list!
- Auto IDA: Up to $1,000 in grants to help purchase a vehicle needed to access school or work. This program is full - now taking names for the waiting list!
Do I qualify?
Income limits and other eligibility criteria apply. Take a look at the following guidelines.
- Homebuyer Matched Savings
- Gifford Foundation Matched Savings for Entrepreneurs
- Education and Auto Matched Savings
Join the Program
If you have any questions - or if you're ready to get started - contact Kira Crawford at (315) 473-0211 or kiracrawford[at]coopfed.org.
Funding for our Matched Savings Program comes from the Gifford Foundation, Assets for Independence (US Dept. of Health & Human Services/Admin. for Children & Families), the Catholic Campaign for Human Development, the Federal Home Loan Bank of NY, and the NY Credit Union Foundation.