Dollars to Dreams Individual Development Account (IDA) | Northwest NJ Community Action Partnership (NORWESCAP)
Resource Name:Dollars to Dreams Individual Development Account (IDA) | Northwest NJ Community Action Partnership (NORWESCAP)
address
350 Marshall St, Phillipsburg, NJ 08865
Eligibility
Must be income eligible; Must complete the application process; Must attend all financial workshops.
Required documents
All necessary bills or debts, application/registration forms, proof of household income, varies, call for information.
Hours
Mon - Fri 8:00 am - 4:30 pm
908-454-7000, ext. 116
Voice
·Main Phone
Application process
Call to apply. Applicants must attend an IDA Orientation and sign a savings plan agreement. Applicants must deposit at least $10 per month and attend financial literacy classes to receive match dollars.
Fees
None.
Service area
Hunterdon County, NJ
Morris County, NJ
Somerset County, NJ
Sussex County, NJ
Warren County, NJ
Assisting individuals in saving for various goals such as home ownership, education, or starting a small business, the program provides a 3-year matched savings initiative. The aim is to foster wealth accumulation and asset acquisition. Applicants undergo an IDA Orientation, sign a savings plan agreement, and open a personal saving account, depositing a minimum of $10 monthly while attending mandatory financial literacy classes.