Asset Building Savings Program. Eligibility Requirements. DreamSavers Program Funding. Youth 3A s Savings Program. You may be eligible if you are:

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1 Asset Building Savings Program What would you do if a bank offered you 300% interest on your money? Take them up on it! Dream$avers is an Individual Development Account or IDA program that offers just that for youth and adults. We can help you reach your dream by matching every dollar you save, up to $2,000, with another $3 dollars to help you purchase an approved asset. Imagine how fast even a small monthly deposit will add up when your money is quadrupled! Dream$avers will also provide you with training, goal setting and support to help you achieve your savings goal. Eligibility Requirements You may be eligible if you are: 12 and older An Oregon resident A member of a household that meets the income and net worth limits. Must be interested in saving for one of the five approved savings goals. Willing and able to save for a minimum of 6 months to 36 months. (see below for more information) Living within our 12-county service area. (see below for more information) DreamSavers Program Funding The Individual Development Account (IDA) Initiative is supported by funding from the Oregon IDA Tax Credit. The Oregon IDA Tax Credit allows you to support participants like ours and get back a 75% credit on your State tax return. For more information goto or go to for more information about the IDA program in your part of the state. Youth 3A s Savings Program Youth as young as 10 can get in on the fun too! The Youth 3A s program offers the opportunity for youth ages 10 to 17 to save for anything athletic, academic, artistic or entrepreneurial.

2 DreamSavers Income Qualifications Income is determined only at the time of application and is based on the total household income of all members of the household. Adjusted gross income is compared to two months of recent paycheck stubs to determine what the current income is for all wage earners in the household. Any other sources of income are added as well to create the total household income. All income is counted for all members, except for the following: Foster care income, wages earned by minors in the household, income earned by a non permanent household member (i.e. a roommate or someone who is staying temporarily), and a household living under the same roof that can be verified by a separate tax return Income qualifications for DreamSavers Program by household size and County: All Dream$avers Counties as of person 2 person 3 person 4 person 5 person 6 person 7 person 8 person $35,780 $40,900 $46,000 $51,120 $55,210 $61,940 $69,860 $77,780 except Deschutes County as of 2012 $37,200 $42,500 $47,800 $53,100 $57,350 $61,940 $69,860 $77,780 Net worth is also a factor when determining eligibility for the household. Excluding the value of your home if you own it and your most expensive vehicle, your total net worth cannot exceed $20,000. We ask that when reporting these items on your application that you look up your vehicle values on Kelly Blue Book or a comparable website and report any debts owed based on your most recent statement from your lending institution. Similarly we ask that you use your tax assessed value and most recent mortgage statement to report on your home value and debt owed, unless a recent appraisal has been done or another assessment to provide you a different analysis. For all other categories, please report as accurately as possible, using recent statement balances when available. Verification may be asked for if needed. DreamSavers Approved Savings Goals There are five approved ways to save under the DreamSavers program. They are: 1. First Time Homeownership Savers under this category must be considered first-time homebuyers and can use the funds for any of the following purposes: Down payment

3 Closing costs Earnest money Required repairs by a lender Appraisals Inspections 2. Post Secondary Education or Job Training Savers under this category must plan to maintain residency in Oregon (or for minors who enroll, their household must maintain residency) both while they save and spend their funds. Funds can only be used for the following uses: Tuition Fees Books Equipment related to being a student (i.e. a computer, graphing calculator, materials required under a syllabus, etc.) 3. Small Business Start Up or Expansion Savers under this category must have a viable business idea that is approved by the IDA program prior to enrollment. Funds can be used for: Materials Supplies Equipment Inventory Advertising Initial start up expenses 4. Repairs or Modifications to make a primary dwelling habitable, accessible or visitable Savers do not need to have homes that qualify as real property, which means that both singlewide and doublewide manufactured homes and trailer homes in parks qualify under this program. Funds can be used for the following: Habitability includes anything that improves the health and safety or improved longevity of the life of the home. This can be roof replacement, heating system upgrades, foundation repair, plumbing or electrical issues or weatherization. Please note: those interested in weatherization must demonstrate that they have applied for other weatherization programs in their area and are either ineligible or are unable to access those programs in the same amount of time.

4 Accessibility includes any modification to the inside of the home that would accommodate making the home more accessible. Examples of this include lowered counters and cabinets, wheel-in showers and grab bar modifications or widened door frames. Visitability includes any improvement to the entryway of the home that allows any member of the household to gain safe entry into the home. Examples of this can be replacement of rotting stairs if the stairs are the only way in and out of the home, or to add a ramp to the home to be able to gain entry. Rear entry replacement or deck replacement does not count. 5. Equipment, technology or assistive technology required to become competitive in obtaining or maintaining employment Savers under this plan do not need to be considered to have a disability, however those who do consider themselves to have a disability and wish to become employable can use these funds to help in achieving that goal. As part of an employment plan, funds can be used for the following: Assistive listening devices Vehicle modifications Mobility devices Specialized computers Other equipment specified by an employer or job posting where hiring would be dependent on having this equipment DreamSavers Service Area DreamSavers is available through a network of partner agencies throughout southern, southwestern, central and eastern Oregon. Not every partner agency provides every savings goal but NeighborWorks Umpqua will strive to meet your needs, regardless of what you want to save for, if you live in Deschutes, Douglas, Coos, Crook, Curry, Harney, Jackson, Jefferson, Josephine, Klamath, Lake or Malheur counties. Below is a list of the partner agencies based on county. All of the eligibility criteria are the same, but you should contact the agency in your region to request an application. Deschutes, Crook and Jefferson Counties NeighborImpact Offering Homeownership, Education, Small Business & Home Repair IDA sprimary Contact Person: Yolanda Vanderpool Phone: website:

5 Douglas, Jackson, Josephine, Klamath and Lake Counties Southern Oregon Goodwill Offering Small Business, Education, Home Repair & Assistive Technology IDA s Primary Contact Person: Pamela Redding Phone: website: Douglas, Jackson, and Josephine Counties College Dreams Offering Education IDA s for youth Primary Contact Person: Katie Eaton Phone: website: Douglas County Family Resource Center Offering Education IDA s for youth Primary Contact Person: Delaine Humphreys Phone: Harney County Please contact our office if you are interested in applying from Harney County. Phone: Jackson and Josephine Counties Access Inc. Offering Homeownership, Education and Small Business IDA s Primary Contact Person: Elisha Boyle Phone: website: Jackson County Groundworks CDC Offering Homeownership and Education IDA s Primary Contact Person: Roxana Zepeda Phone: website: Klamath and Lake Counties South Central Economic Development District (SCOEDD) Offering Education, Small Business and Home Repair IDA s Primary Contact Person: Pamela Ruddock Phone: website:

6 Klamath County Klamath Lake Community Action Services Offering Education and Homeownership IDA s Primary Contact Person: Michelle Smith Phone: *8 x11 website: Malheur County Malheur Council on Aging & Community Services Offering Education and Equipment or Technology to Obtain Employment IDA s Primary Contact Person: Loni Debban Phone: website: