On December 13, 2021, clients of Experiment in Self-Reliance (ESR) will celebrate their graduation from the New Century IDA (Individual Development Account) financial literacy classes.
The graduation will take place at 5:30 pm in the parking lot of ESR, which is located on Dominion Street in Winston-Salem. Graduates will park in front of their name, which is printed on a sign. ESR’s Board Chair Marsha Smith and Executive Director Twana Roebuck will make remarks. QEA‘s band will provide entertainment. Participants will receive a certificate of completion.
Participants in the program are on track to either become a first-time homeowner or develop their small business. Graduating clients completed ten months of financial education classes while also working with their Success Coach to budget, save, pay down debt, and increase their credit score. Clients are charged with saving $2,000 during the course of the program. Their savings is matched for a downpayment on a home or to go towards their small business.
To date, there have been 43 waves, or classes, of clients to graduate from the program. Wave 43, which is graduating this evening, consists of 16 clients – 14 are enrolled in the homeownership IDA and 2 are enrolled in small business IDA.
Since the program’s inception in 2000, nearly 700 people have received savings matches to go towards homeownership, education, or micro-enterprise. The total asset value of homes purchased through the program is $78,000,000. All homes are purchased in Forsyth County.
ESR is a non-profit Community Action Agency that aims to empower people to become self-reliant. Programs assist people with affordable housing, free tax preparation, education, financial literacy, homeownership, and more.
For more information on New Century IDA or other programs at ESR, call 336-722-9400 or visit www.eisr.org.