CFED: Featured Stories

Dennis Eliminated 80% of His Debt through an IDA Program

Dennis Matthews’ life is unrecognizable since he enrolled in the IDA program. Before enrolling, he was $10,000 in debt and faced a 45% salary reduction after being laid off.

More Featured Stories

The Curriers Discovered Tax Breaks They Were Missing Out On

The Curriers had debt, but not enough to qualify for a lower interest rate and consolidation. So when they found out that they qualified for tax breaks as small business owners, they were delighted.
Beat the Odds Against Them and Saved for Her Son's Future

Richar was only six, but he had a savings account, and he was proud of it. Growing up in an area where 61% of children were living in poverty, Richar had an opportunity to improve his economic future. His mom, Darlene, was orphaned at the age of seven and grew up in state facilities. “I never thought of college for myself,” she said, “but for my son, it’s a different story.”
Naje: SEED Gave Me the Opportunity to Achieve My Goals

Naje, age 11, has this to say about the SEED program:
SEED Improved Jeff's Grades and Increased His Savings

By 14 Jeff Word had been a member of the Delaware Boys and Girls Club for many years. At an early age he unexpectedly lost his mother to illness; during that year, Jeff struggled to cope with his loss, and was ultimately held back a year in school.
Shared His SEED Saving Experience on Capitol Hill

Jamar Nembhard, a then-16-year-old from Wilmington, DE, already had plans for pursuing a college degree in computer science, his own business, and giving back to his community – all thanks to his SEED account and financial education classes.
His Mom Built Their House, He Built His College Education Fund

David Texidor had big dreams for the future. At age six, he was a first-grader in the SEED program in Vega Baja, Puerto Rico, and already knew he was saving his money for a college education.
Saved Money Replacing Old Manufactured Home with New, Energy-Efficient Model

During the winter, Nicole Legare was paying $600 a month to heat her 1968 model mobile home using propane gas; but after she sought help from NeighborWorks Montana, all of her bills combined – mortgage, groceries, heating, etc. – came out to be less than her old gas bill.
Manufactured Home Residents Own and Run Their Community

Frank Ellis, a 73-year-old semi-retired machinist, and his wife Joanne, 71, were looking for a quiet place to live after their kids moved out. They quickly found a “quiet, close-knit community” of manufactured homes in Raymond, New Hampshire.
No More Shelters: IDA Helped Mother of 3 Buy Her First Home

Just a few years ago, Sunshine Cross had no job, no home, no college education and three sons to care for. Now, she has a job she loves, owns a home, earned her Bachelor’s degree and is pursuing her graduate degree.
IDA Created Opportunity for Woman at "an economic dead end"

Sunny Suppa had a dream. She wanted to start a business creating clothes for petite women like herself. But with less-than-stellar credit and no savings, she felt stuck in an economic dead end.
From Homeless to Homeowner

“Both my wife and I had been renting for years,” said new homeowner Marvin Talley. “So owning our new home finally gives us a sense of wealth and roots; it’s something that is ours.”
Family Dug Out of Debt, Saved to Buy Home with IDA

Lisa Long and her husband, Antonio, own their home, are building their 401(k) accounts at work and have a savings account for emergencies. Even their children have savings accounts.
Grandmother Goes Back to School and Starts a Business
Liberian Refugee Used IDA to Start Small Business

Okra, eggplant, palaza and dried fish. While some may think “exotic food,” Juah Dyer thinks “business opportunity.”
From Foreclosure to Homeowner

Lifelong Washington, D.C. resident, Barbara Gray, never thought she would be able to be a homeowner again. After her home was foreclosed while going through a divorce, her credit score plummeted to a devastating 560, putting her in the high risk category for loans. She wasn’t eligible for a credit card, let alone a home mortgage loan. And she had no savings for a downpayment.
Mother Struck by Meningitis and Used IDA to Bounce Back

For 20 years, training and racing horses is how Pat Smith supported her family; but when she was diagnosed with spinal meningitis, that was no longer possible.
Becoming Her Own Boss, Building a Better Life for Her Children

As a single mother, Olga Estrada dedicated her entire life to raising her daughter and son. She left Nicaragua and moved to northern California in the hopes of offering them a better life than she had.
Dena Jo Squyres, like a typical 16 year-old girl, enjoys hanging out with her friends, shopping and playing softball

Dena is a natural leader who plans to become a doctor. She knew that her parents could not afford the cost of college. “I wasn’t sure if it was possible to pay for college on my own and I had almost given up hope,” Dena admits. “However, now, thanks to the SEED program, I am well on my way to saving for college.”
Immigrant Escaped Poverty with Matched Savings

Cesilia Bueso tells her friends that she is living proof that with hard work and years of savings, their dreams of homeownership can come true.
Ira and Hazel Cheatham purchased their Portland, Oregon home in 1983.

Ira and Hazel soon got a call from the lending institution urging the elderly couple to consolidate this loan, along with all their credit card debt, into a single mortgage. According to Ira, the financial institution promised that the couple would receive an interest rate that would reduce their monthly mortgage payments. In fact, the loan actually contained an annual percentage rate twice the promised rate.
Grandmother Goes Back to School and Starts Business

There aren’t too many grandmothers that go back to school and then start their own business, but Laura Burke is one of them.
Single Mother Owns Home After Years of Public Housing

But seeing the house allayed all of her concerns. It looked like any other house, with a peaked roof and a generous porch overlooking the front lawn. She was excited about having a home for her family to call their own.
Louisiana Department of Social Services - Asset Building Policies

In recent years - and very prominently in the wake of Hurricanes Katrina and Rita - the state of Louisiana has taken a number of important steps to make asset building a priority. In particular, the Louisiana Department of Social Services (DSS) has embraced the concept of asset building, and is implementing a number of programs to address persistent poverty and offer opportunities for asset building to low- and moderate-income residents.
Saving for a Home, $10 at a Time

Michelle Simmons had one goal: to buy her own home. As a single mother of two, though, it was no easy task. Due in part to an Individual Development Account (IDA), she achieved her goal.
Woman Dedicates Her Life to Building Assets for People with Disabilities

Megan O’Neil got into a car accident that changed her life – and others’ lives.
IDA Helped Single Mother Get Off Welfare

At one point, Erica was living in subsidized housing in Boston with her two young sons. The majority of their meals consisted of dry, packaged goods lacking in nutrition. Looking to better her situation, she enrolled in an Individual Development Account program and has since moved out of subsidized housing, earned her Master’s degree and become a social worker.