Refugee Individual Development Program

The Refugee Financial Literacy Individual Development Program (IDA) helps refugees understand what assets are, how the U.S. financial system works, and how to manage their money.

COC has assisted refugees in purchasing $2.5 Million in assets over the past four years! Thirty-seven percent of the refugees purchasing these assets are women.

Through the IDA program, refugees can save for one of four assets:

Car
Home purchase
To start or support a business

To enroll in the program, participants must:

Have a paying job
Earn less than 300%(beginning 2024) of the federal poverty level
Financial literacy training (like banking, savings, credit history, writing checks).
Asset- specific training (like first-time homebuyer training, business planning, first time vehicle purchasing).
A match of $1 for every $1 saved by the client. Matches are allowed up to $2,000 for individuals and $4,000 for households.