Ka Wai Ola - Office of Hawaiian Affairs, Volume 26, Number 1, 1 January 2009 — Homesteader savings [ARTICLE]

Homesteader savings

In partnership with the Department of Hawaiian Home Lands, Hawai'i First Federal Credit Union announced a new program to help beneficiaries on Hawai'i Island save money for the eonstruction or purchase of a home on Hawaiian Home Lands. A new special savings account, known as an Individual Development Account, will give the account holder $4 for every $1 deposited. In other words, if someone saves $1,600 in the account, the balanee will be matched 4-to-l for a total of $8,000 to be used toward the house. Beneficiaries also have the opportunity to participate in "Money First," the credit union's money management education program. The number of accounts is limited, and there are ineome limits. For more information and to apply, contact Hawai'i First Conununity Resource Center at 808-885-6600 or info@hawaii firstfcu.com.