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What is it?
The RISE Foundation’s Save Up II Program is a matched savings program for workers in Shelby County. It is similar to the original RISE IDA program, except it is designed for those who do not live in public housing. This benefit is only provided for the purchase of a home, a vehicle, a computer or an Individual Retirement Account (IRA). What do I get? Participants may save up to $1,000 and the RISE Foundation will match each dollar saved with $2 up to a maximum of $2,000, for a total of $3,000. How long do I get it? You must save for a minimum of 6 months and you can continue to save for up to 2 years or a maximum of $1,000. Matched savings begin once you have saved a minimum of $50 per month for the first 6 months. If you miss a deposit for any reason during this time, you will be removed from the program. |
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