Program Name: Sow a Seed - Matched Savings Program  

 Are matched savings accounts that allow individuals and families to establish a pattern of regular savings and, ultimately, withdraw for a specific savings goal and/or asset purchase. Savings and match money may be used toward the down payment to purchase a home and/or pay for closing costs, to start a small business or expand a business, or further post secondary education or job training.

In addition to earning match dollars, individuals will learn about budgeting, saving, banking and credit when they open an IDA. (e.i. For every $1 saved, a match of an additional $2.)

Money is matched to encourage and help participants to save enough to purchase an asset, such as a house or create or expand a business. While paychecks help to buy food and clothing and pay bills each month, an asset provides financial security for the future. If participants begin to earn less money or lose their job, having an asset will make it easier for them to continue to pay their bills and meet household needs. 

 Match dollars for Sow a Seed IDAs come from many different places, such as government grants, private companies, churches, local charities or donations. Any individual, organization or business can contribute match dollars to IDAs.  

Legacy Foundation for Change will recruit participants for the Sow a Seed IDA Match Savings program, provide financial education classes, and also provide one‐on‐one counseling. After being deemed eligible for the program, each participant will sign up for an IDA program and open an account with the partnering financial institution. The financial institution handles all transactions to and from the IDA. Each month, participants receive a statement telling them how much money (individual savings + match + interest) is accumulating in their IDA.

A Seed Match Savings program will be as short as one year or as long as eighteen months from beginning to end. Sow A Seed participants are allowed to withdraw money as soon as they have reached their savings goal, but they must first complete 10 hours of financial literacy workshops and at least 3 one-on-one sessions with a credit coach.

Yes, the match savings must be used for specific asset saving usages only. 

This is a great question that you and a program specialist will be able to answer together. If you would like to own a home, further your education or start a small business, then participating in Sow a Seed Match Savings Program could be the best way to reach your goal. Each person and situation is different, so take time to ask questions and learn as much as you can.   

To qualify for assistance, applicants must provide the following documentation:

• Verifiable Proof of Income (e.g., pay stubs, tax returns, or benefit statements)
• Proof of Residency (e.g., utility bill, lease agreement, or official mail)
• Valid Government-Issued ID (unexpired)
• Income Limits (80% Area Median Income):
  • 1-person household: ≤ $57,000
  • 2-person household: ≤ $65,150
  • 3-person household: ≤ $73,300
  • 4-person household: ≤ $81,400
  • 5-person household: ≤ $87,950

Note: All documents must be current and legible. Adjustments may apply for household sizes beyond 5.. 

Applications will open in early October 2026.

• You must apply if you’re eligible. If you’re not eligible at the time of your application, your name will remain on a waitlist for up to 1 year. If circumstances change, you may be deemed eligible.
• You will be invited to an orientation. Attendance is MANDATORY.
• After orientation, you must provide the documentation needed. (e.i. Unexpired government issued ID, Current pay stubs, & proof of residency)
• A meeting will be scheduled between you and your future coach/counselor/specialist.
• Your application and documents will be reviewed, revised and approved! (hopefully).
• Once approved, you must open a separate savings account during the first 45 days.
• A 2nd appointment with your coach is required to review the Savings Plan Agreement, collect data/surveys.
• Start your monthly deposits. (Minimum deposit of $25) We strongly encourage monthly deposits.
• You will provide IDA account documentation to your coach every month. Progress towards the goal should be made every month and if not an explanation is needed.

You will see your counselor periodically and you will fill, complete and update documents as necessary. Your involvement is REQUIRED. 

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