December 17, 2008: BPSOS-Bayou La Batre is proud of the ongoing success of participants in the Individual Development Account (IDA) program! Three clients have recently withdrawn their savings to buy a house or land. In the aftermath of so many hurricanes in the last few years, saving this money and buying real estate is no small achievement!
If you belong to a low-income Vietnamese family in Bayou La Batre, or in other places around America, you now have this same amazing opportunity to prosper despite today’s economic storms. BPSOS stands ready to help you open an IDA. Every dollar you deposit in this savings account is matched, doubling your investment!
At the conclusion of the IDA program, you can withdraw your money and use it for several specific, economically sound purposes. For example, like some IDA users, you may use the money to purchase a home, car, education, or computer. In other cases, you may use it to make home repairs, or to start a new business.
Everyone can use the tools offered by BPSOS to strengthen their household finances and move forward to economic success! The progress we’re witnessing is due in great part to the fact that Boat People SOS has received funding from the Office of Community Services (which is under the Administration for Children and Families) and the Department of Health & Human Services to serve 200 hurricane victims in the Gulf Coast area rebuild their lives.
We also have a partnership with Southwestern National Bank in Houston to access reasonable financing for IDA participants. The program helps hurricane survivors restore financial stability to their lives through savings and asset-building by purchasing a house or opening a small business.
For more information on how you and your loved ones can benefit from the IDA program, please contact Bayou La Batre branch manager Minh Le at 251.824.7004.
Because the IDA program is offered in other BPSOS branches across the country, you may also contact Loan Hanlon at 703.538.2190 with questions about how to access these services in places outside Bayou La Batre.