Welcome to the IDA and Asset Building Collaborative of North Carolina's website -- a statewide organization serving as the central coordinating agency for asset-based development in North Carolina.

The IDA and Asset Building Collaborative of North Carolina is a private, non-profit organization funded by public and private sources.

Learn about the Collaborative's role in providing financial education to persons with disabilities

ANNOUNCEMENTS

  • Creator of IDAs Named to TIME Magazine’s TIME 100
    Michael Sherraden, creator of Individual Development Accounts (IDAs) and a pioneer in the work on asset building for low-income individuals and families, was named to the TIME 100.  TIME 100 is TIME magazine’s annual list of the 100 most influential people in the world.  This list recognizes achievement, innovation and activism. Click to read the 2010 TIME 100.

  • April 2010 - New research conducted by CFED in and Urban Institute, substantiates the claim that if affordable homeownership is done right – that is, with savings, financial education and equity rather than just debt – low-income and minority individuals can be successful homeowners. The study, “Weathering the Storm: Have IDAs Helped Low-Income Homeowners Avoid Foreclosure?” tracked 831 homebuyers in 17 states who purchased homes using IDAs between 1999 and 2007. Compared to other low-income homebuyers who purchased homes in the same communities and over the same time period, IDA homebuyers:
    • Obtained significantly preferable mortgage loan terms, with only 1.5 percent having high-interest mortgage rates, compared to 20 percent of the broader sample.
    • Were two to three times less likely to lose their homes to foreclosure.

  • New America Foundation reviews the role of public policy in unrestricted savings.

  • IASP Release of New Asset Security and Opportunity Index
    The Institute on Assets and Social Policy (IASP) at Brandeis' Heller School for Social Policy and Management releases a new re-conceptualized measure of asset security and opportunity, which provides an important step for practice and research for the growing asset field. The Asset Security and Opportunity Index extends past approaches of measuring asset poverty. Key findings show that 42 percent of all U.S. households of working age do not have asset security and more than half lack asset opportunity. Troubling are the very low asset holdings of African American and Latino households who have the lowest levels of asset security and opportunity for mobility. More than two-thirds among them are not secure with respect to having sufficient assets to meet essential household expenses for three months in absence of earned income, and only one in five households of color have financial assets to invest in opportunities for mobility. View the report at: http://iasp.brandeis.edu/pdfs/Brief.pdf