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Matched Savings Program

Cooperative Federal provides opportunities for our members to build assets and achieve financial goals. Matched Savings Accounts, also known as Individual Development Accounts (IDAs), are one of the best tools we have for building financial strength. We have matched savings accounts for homebuyers, small business owners, and individuals saving for higher education or personal transportation.

About Matched Savings

Matched Savings Accounts help people reach specific goals by doubling, or even quadrupling, their individual savings. You set a savings goal, make monthly savings contributions toward that goal, and then receive a matching grant when you succeed. Along the way, you also receive financial education and counseling to help you achieve your goal.

Enrollment is subject to funding availability. Income limits and other eligibility criteria apply.

Homebuyer Dream Program

The Homebuyer Dream Program provides up to $9,500 in down payment and closing cost assistance to first-time homebuyers. Learn more about the Homebuyer Dream Program to see if you qualify.

Now pre-screening applicants!

Small Business Matched Savings

Eligible entrepreneurs can get up to $2,000 in grants for working capital to help start or expand a small business. 

Sorry, this program is not taking new participants at this time.

Higher Education Matched Savings

If you're planning to pursue college or a professional certification, you may be eligible to receive up to $2,000 in grants for tuition, books, supplies or living expenses.

Sorry, this program is not taking new participants at this time.

Transportation Matched Savings

If you need to buy a vehicle to access school or work, this program may be able to help you get up to $1,000 in grants for a car down payment.  

Sorry, this program is not taking new participants at this time.


Funding for our Matched Savings Program comes from Assets for Independence (US Dept. of Health & Human Services/Admin. for Children & Families), the Federal Home Loan Bank of NY, Catholic Campaign for Human Development, the Gifford Foundation, and the NY Credit Union Foundation.