Copyright © 2004 NLThomas
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News from the Cherokee Nation, OK
Copyright © 2004 CNO
TAHLEQUAH, OLAHOMA - The Cherokee Nation has a plan to help its' citizens save money to reach their goals. The Cherokee Nation Individual Development Account (IDA) program not only assists people with saving money, but also teaches them how to make good financial decisions and become financially literate members of the community."The IDA program is part of an innovative approach to combating poverty that focuses not just on meeting the most immediate needs to low-income families, but also on the long-term benefits of helping working families acquire a stake in their communities," said Angela Morgan, Cherokee Nation IDA coordinator.
To enroll in the IDA program, participants must meet income guidelines, have a Certificate Degree of Indian Blood card (CDIB) or Cherokee Nation tribal membership card, regular source of earned income, and live within the Cherokee Nation's 14-county jurisdictional area. Once enrolled, participants are required to deposit $30 per month into a designated savings account for 24 months and complete 12 hours of financial training. Participants may elect a savings goal from four designated areas: higher education, first-time home purchase, home rehabilitation or small business start-up. Upon completion of the two-year program, the Cherokee Nation will match the participant's savings two dollars for every dollar the participant saved, and three dollars for every dollar saved if the participant is saving to purchase their first home.
"It is empowering to see the end results of completing this program through our graduates and the economic impact they are making in their communities through accomplishing their saving goals," Morgan said.
The Cherokee Nation will host IDA enrollment sessions in Tahlequah, Stilwell and Pryor for citizens who are interested in enrolling in the savings program. The enrollment session in Tahlequah will be on Tuesday, November 2 from 6-8 p.m., in the Cherokee Nation Human Resources building, 3 miles south of Tahlequah on Hwy. 62. The enrollment session in Stilwell will be held on Thursday, November 4 from 6-8 p.m. at Arvest Bank, 514 W. Locust in Stilwell. The enrollment session in Pryor will be held on Tuesday, November 9 from 6-8 p.m. at Arvest Bank, 101 S. Mill in Pryor.
For more information on the Cherokee Nation IDA program, please contact Angela Morgan, phone: 918-456-0671 (ext.2834).
| Related Cherokee Nation contact information: |
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Mike Miller, Cherokee Nation Director of Communications Phone: 918-456-0671 (ext.2210) Fax: 918-458-5580 E-mail: Communications@cherokee.org
Larry Daugherty, Advertising Manager |
Steven Swogger, Agriculture Liaison Natural Resources Department Phone: 918-456-0671 (ext.2546) FAX: 918-458-7673 E-mail: sswogger@cherokee.org
Bradley D. Peak, Cherokee Nation |