Lakota Tiwahe Family Asset Building
The Lakota Tiwahe Family Asset Building project is a program where low-income participants open a matched savings account, or Individual Development Account (IDA), to be used specifically for building assets. These accounts provide the capital, incentive and support necessary to move individuals and families towards homeownership, business development, or post-secondary education.
How it Works
Once enrolled in the IDA Program, a participant opens their savings account and makes minimum monthly deposits of $25.00 for at least six months and up to two years. Lakota Funds deposits $2.00 for every $1.00 a participant deposits. Participants can deposit up to $1,440, and Lakota Funds deposits up to $2,880, for a grand total of $4,320 to be used towards asset-specific purchases. Upon completion of the program, participants can withdraw their savings to attain post-secondary education, start or expand a business, or purchase a home. All participants attend monthly support meetings and complete asset-specific training.
Enrolling in the Program
Enrollment for our matched savings program is currently closed. Please check back regularly to find out when we will be opening enrollment again.
Increasing Financial Resources
Since the Lakota Federal Credit Union opened in 2012, they have been a valuable partner. Our matched savings program participants are able to open their savings accounts at the Lakota Federal Credit Union, making it convenient for them to access banking services right here at home on the Reservation.