$avers' Club

“The best thing money can buy is financial freedom.” -Rob Berger, Finance Blogger


Through the HOPES $avers' Club, qualifying individuals are able to start saving money in an Individual Development Account (IDA). This special matching savings account held at Liberty Savings Federal Credit Union is designed to enable participants to save a targeted amount of money that can be used to build assets in the form of college education and small business ownership.

How It Works

For every $1 a participant deposits into their account (up to $2000 for an individual or up to $4000 for a household), an additional $2 in matched funds will be deposited into that same account. Once the participant’s goal is met, they will be free to designate their money and the matched funds to make their education or small business plans a reality. As part of this program, participants receive free financial literacy training that will assist with developing and maintaining their savings plan. HOPES $avers Club and matching funds are made possible by a partnership with Liberty Savings Federal Credit Union and by the Assets for Independence (AFI) grant made available by the US Department of Health and Human Services.


In order to qualify for the HOPES $avers’ Club program, individuals must be able to prove that they have a source of earned income and meet one of the following conditions:

  1. They are eligible for TANF Benefits.
  2. They have an annual adjusted gross income of less than 200% of the federal poverty guidelines AND no more than $10,000 in total net worth excluding the value of one automobile and one home.

Plan Flexibility

Participants in the HOPES $avers’ Club set a personal savings goal and timeline according to their own needs. As long as the participant can consistently save money toward their goal, they can be involved for any amount of time between the minimum of six months and the maximum of two years. With help from HOPES staff, individuals will create the best plan for their own savings goals so that staying on track and saving money is not just a dream but a reality. Based on income and realistic expectations of available money to save, each person will develop the plan that’s right for them.


Financial education classes are mandatory for participants in the HOPES $avers’ Club in order to help them understand the benefits of saving and the best savings practices. Learning to save money consistently can have long-term benefits toward participants’ life goals.

Contact Information

Information For more information or to find out how to get involved in this program, contact

Phoebe Gould
Email: pgould@hopes.org
Phone: 201-876-2935 ext. 1107