Phone: (651) 495- 1511
New Matched Savings Program at HAP to Combat Poverty and Promote Economic Independence
Saint Paul, Minnesota – January 31, 2013 – Hmong American Partnership is pleased to announce the creation of its Individual Development Accounts (IDA) Program made possible with a grant from the Office of Refugee Resettlement (ORR). IDA are matched savings accounts program aimed at promoting economic independence in low to moderate income families and individuals. Hmong American Partnership’s primary target audience for this program includes Southeast Asian refugees such as the Karen, Burmese, Bhutanese, and Hmong.
The IDA program will help participants identify and develop a plan that will meet their savings goal. The program provides matching dollars to deposits that participants make into an approved savings account. The goal of this program is to educate and give participants the flexibility to use their savings towards meaningful purchases that will improve their future. Participants can use the money to buy a home or car, to start or expand a business or as payment towards vocational or post-secondary education for themselves or their dependents.
Bao Vang, President/CEO of HAP, stated “HAP is excited and honored to be able to provide financial support and training so that our participants can become successful members of their new communities. Refugees face many obstacles and they look to social organizations such as Hmong American Partnership to provide services and resources as they adjust to life in the U.S.”
Program participants will attend workshops and trainings about financial literacy, savings planning, and money management. These services are designed to help participants acquire or strengthen personal financial skills. Successful completion of this program will lead to long-term success, development of good consumer habits and financial independence.
If you would like more information please call Lisa Xiong at (651) 495-1511.
About Hmong American Partnership
Hmong American Partnership is a community development organization whose mission is: to empower the community to embrace the strengths of our cultures while achieving our potential. Hmong American Partnership was established in 1990 to address the needs of Minnesota’s growing Hmong population. Since its inception, HAP has expanded to serve community members from a wide variety of cultural and ethnic groups. HAP provides critical services and support to more than 5,000 community members annually through five programs: Education & Training; Employment Services; Housing Services; Economic Development; and Children and Family Services.
|FEATURED PARTNER: NATIONAL CAPACD
HAP is pleased to present National CAPACD as a featured partner. The National Coalition for Asian Pacific American Community Development (National CAPACD) is the first national advocacy organization dedicated to addressing the housing, community and economic development needs of diverse and growing Asian American and Pacific Islander (AAPI) communities. National CAPACD supports HAP's Housing Programs.