Copyright © 2006 NLThomas
All Rights Reserved

TAHLEQUAH, OKLAHOMA - Cherokee Nation is helping working individuals and students save money to achieve their financial goals and to teach them how to make good financial decisions and become financially literate. The Cherokee Nation is currently accepting applications for the Individual Development Account (IDA) and the Youth Individual Development Account (YIDA) programs. Through these programs, Cherokee Nation IDA matches every $1 an individual saves with a matching donation ranging from $1 to $3.

"The IDA program is an asset-building program designed to assist tribal citizens through the wise acquisition and management of assets like homes, businesses, and further education," said Gina Martinez, Cherokee Nation IDA coordinator.

To enroll in the IDA program, participants must meet income guidelines, have a Certificate Degree of Indian Blood card (CDIB) from a federally recognized tribe or a Cherokee Nation tribal membership card, have a 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 to 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, Cherokee Nation will match the participant's savings with $2 for every $1 the participant has saved and with $3 for every $1 saved if the participant is saving to purchase a first home. Participants must also attend money management classes and asset maintenance classes.

The Youth IDA program is open to Native American youths between the ages of 14 and 17. They will save $20 per month for 24 months and must attend money management classes and a college readiness course and earn match dollars to assist them with educational costs. Cherokee Nation matches the teen’s savings 2-to-1 monthly and also monitors participants’ accounts each month.

For more information on or an application for either the Cherokee Nation IDA or the YIDA program, please contact program officials, phone: 800-256-0671 (ext.3834); 918-456-0671 (ext.3834), or Gina Martinez, phone: 918-207-3834.

Related Cherokee Nation contact information:

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 Cherokee Nation - Public Affairs Phone 918-456-0671 (Ex.2324) E-mail: ldaugherty@cherokee.org

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 Natural Resources Specialist Phone: 918-456-0671 (ex.2843) E-mail: bpeak@cherokee.org