Programs_Individual  Development Account Program (IDA)

The Chinatown Manpower Project Individual Development Account Program teaches the basics of savings and personal finance to low-income immigrants throughout New York City. The program offers matching funds on savings for three purposes: 1) Purchasing a home; 2) Starting a business; and 3) Paying for college or other post-secondary education.

Through the Chinatown Manpower Project Individual Development Account Program, each participant develops a savings plan with our Counselor depending on his personal financial situation. Participants deposit money each month into a special savings account to reach towards a savings goal. Over time, participants can watch their savings grow and develop sound financial planning skills. Once a participant reaches his savings goal, he can make an asset purchase with both the savings and match money. Our counselors work with the participants to obtain any additional financial assistance as necessary and help them complete asset purchases.		 

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