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Programs -
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The CMAA's Individual Development Account (IDA) is a refugee's saving program for three saving goals: (1) first time home buying (2) post-secondary education or recertification and (3) small business. The saving will be matched up to $2,000.00 for an individual participant and $4,000.00 for all members of a household plus interest earned on match funds in the parallel account.
Specifically, participants may use funds for the following purposes:
- To make a down payment and pay closing costs for the purchase of a principal residence.
- To capitalize a Microenterprise which provides full or part-time employment for the new business owner.
- To pay for postsecondary education or vocational training for the program participant or for the refugee child of the program participant.
- To become recertified as a professional in an occupation held by the refugee prior to coming to the United States.
For information about the program and services, please contact:
Sengly Kong
(978) 454-6200 ext 1011
or
Bethany Phrakhonekham
(978) 454-6200 ext. 1041
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