Individual Development Account (IDA)

With the Lakota Tiwahe Family Asset Building Project.  They will guarantee you a match of $2 for every $1 you save in a special savings account.

You would also attend workshops about:

1. Financial Literacy
2. Credit Counseling
3. Homeownership Training
4. Small Business Training
5. Financial Aid / Scholarships for College
6. And many more

Come see how the Lakota Tiwahe Family Asset Building Project can benefit you and your family.

Individual Development Account (IDA)

The Lakota Fund started the Lakota Tiwahe (Family Savings) IDA program in 2001. The first Native IDA in the state of South Dakota. The program was awarded a grant in 2001 from the Department of Health and Human Services, Administration for Children and Families. The funding will be used to assist thirty low- to moderate- income families acquire an asset and build a path towards self-sufficiency.

When potential participants become clients of the Lakota Tiwahe IDA Savings Program they will be provided with financial literacy for personal enrichment and asset specific training to help them understand how to obtain and maintain the asset they have saved towards.

Lakota Tiwahe IDA Savings Program is designed to give clients an incentive to make their IDA experience a positive one. We have offered clients a 2:1 match rate, meaning that the participant will get $2.00 for every $1.00 that they put into their IDA account, (The IDA account is a joint account between the participant and Lakota Funds) for a 24 month savings period. For example, if a client deposits the maximum savings amount of $75.00 for 24 months, they will have $1,800 of personal money invested into their IDA account. Then the program will match that personal investment of $1,800 two times; for a total of $3,600 of incentive program money and a grand total of $5,400 to be used to purchase a home, make a down payment on a home, start a business or expand a current business, or pay for college. That is a 200% return on your investment, as well as, being on a path to self sufficiency and becoming a more financial literate individual.

If you are interested in become a Lakota Tiwahe IDA Savings Program participant there are a few things that we would have to do:

Step 1: Check out the income guidelines to see if you qualify. see guidelines
Find the number of people in your household and follow the row over to the 200% column and if your total annual income is below the figure that it shows, than you can be a possible client for the IDA program. For example, a family with four household members will have to have a total household income of under $40,000. If you qualify than proceed to Step 2.

Step 2: Complete the pre-questionnaire form

Step 3: Completethe pre-application form

Step 4: Complete the monthly obligation form

Step 5: Call and schedule an interview appointment with the LT staff and bring the
completed documents along with you.