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CU System
Education, savings part of Resource One CU's IDA program
FARMERS BRANCH, Texas (6/6/14)--Dallas-based Resource One CU, with $389 million in assets,  has partnered with Consumer Credit Counseling Service (CCCS) of Greater Dallas to help area consumers create emergency savings and reverse the asset-poverty trend by offering free financial counseling, education and matched savings during a 12-month savings and financial capability program.
 
Accountable, Inspirational and Motivational (AIM) is a CCCS individual development account (IDA) through which CCCS will match up to $25 each month for 12 months for participants who engage in one hour of monthly education, coaching  or counseling, and make at or below the income requirement of $56,080 for a household up to four people.
 
Resource One CU will open and hold the matched savings accounts for CCCS AIM clients during the 12-month program ( Leaguer June 5).
 
At least 39% of Dallas residents are considered "asset poor," according to the latest poverty report card from the United Way of Metropolitan Dallas. The asset poor are those who do not have a cushion or emergency savings--and live one crisis away from poverty without the ability to save.
 
Dallas-area consumers will be allowed to enroll in AIM at any of the eight Resource One CU Dallas locations. AIM is available for up to 400 consumers each year for the next three years. Those enrolled in AIM have the potential to create $600 in savings at the end of a 12-month period.


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