New Haven $.A.V.E.$. is an Individual Development Account (IDA) Initiative geared towards Supporting Asset Ventures for Economic Security within low income families in New Haven. Participants may save for asset purchases of a home, small business, post secondary education or training. Empower New Haven, Inc. will match $2 for every $1 the participant saves. Financial education, asset specific training, and individual financial consulting are major components of this initiative. Topics like Saving, Banking, Borrowing, Credit Repair, and Managing Finances are thoroughly covered in our partners Financial Education Courses. These courses are offered at the following partner agencies: Hill Development Corporation, Neighborhood Housing Services; and Mutual Housing Services.

Participants of New Haven $.A.V.E.$ will be matched $2 for every $1 saved. Households are allowed to have two (2) IDA participants who save toward a total match of up to $8,000. Only one (1) IDA of up to a total match amount of $4,000 is permitted per individual (i.e. one (1) participant may save $2,000 for an ENH match of $4,000, for a total of $6,000 for an asset purchase; two (2) participants of the same household can each save up to $4,000 for a match of $8,000 from ENH which would give a total of $12,000 for an asset purchase).

Partners and Affiliates

Neighborhood Housing Services
Mutual Housing Services
The Annie E. Casey Foundation
The Greater New Haven Business Assistance Center
The Community Foundation of Greater New Haven
Citizens Bank
U.S. Department of Health and Human Services
Gear Up
New Alliance Bank
Peoples Bank
Hill Development Corporation

Files

NH $.A.V.E.$ Application