Copyright © 2005 NLThomas
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News from the Cherokee Nation, OK
Copyright © 2005 CNO
TAHLEUQUAH, OKLAHOMA - 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.“IDAs are an innovative way to help families access financial education, save money, and build assets that can be passed on to future generations,” said Gina Martinez, IDA coordinator. “An IDA offers individuals and families an opportunity to save, improve their credit and financial management skills, and have their savings accounts matched with additional funds that can be used for investment in assets such as home, home repair, postsecondary education, or a small business.”
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.
The Cherokee Nation will host three IDA enrollment sessions for citizens who are interested in enrolling in the savings program. The first one will be held in Pryor, Okla., on Monday, August 15 at 6 p.m. at Arvest Bank, 101 South Mill Street. The second one will be held in Stilwell, Okla., on Tuesday, August 16 at 6 p.m. at the Cherokee Nation Career Services office, 217 West Oak Street, and the third one will be held in Tahlequah, Okla. on Thursday, August 18 at 6 p.m. at the Cherokee Nation Office Complex (old motel) located directly behind the Restaurant of the Cherokees, 3 miles south of Tahlequah on Highway 62.
For more information on the Cherokee Nation IDA program, please contact Gina Martinez, 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 |