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 SEED Winnipeg Mission  Saving Circle Program  IDA  Who can Apply  How to Apply  Workshops

SEED Winnipeg is a non-profit agency that works to reduce poverty in Winnipeg. We help people save money for future goals and start small businesses.

Program Delivery:  SEED Winnipeg Inc. Program Development:  SEED Winnipeg Inc. Funders:  United Way of Winnipeg  The Province of Manitoba  Investors Group  Others

What are Asset Building Programs? Asset Building Programs are designed to assist low income individuals and families to buy assets.

Allows you to save up to $250 and receive a match of up to $750

Your Savings Matched Credit Total Maximum Savings $250$750$1,000 How The Match Works 3:1

The asset that you save for has to be one that you need and that will improve quality of life for yourself, your household, and/or the community at large.

 You cannot pay off any debts.  You cannot pay off bills.

 You cannot buy a car.  You cannot use this money for wants (computer games, trips, TV, etc.)

 Maximum individual savings $  Maximum monthly deposit $  Minimum monthly deposit $ 5.00  Maximum savings period 6 Months  Minimum Savings period 4 Months Plus 1 Month to use your money

Allows you to save up to $1,000 and receive a match of up to $3,000

Your Savings Matched Credit Total Maximum Savings $1,000$3,000$4,000 How The Match Works 3:1

Education for yourself, your child, or your spouse.

 Maximum individual savings $1,  Maximum monthly deposit $  Minimum monthly deposit $  Maximum savings period 24 Months  Minimum savings period 12 Months  Plus 1 year to use your money

 For people already accepted into the IDA program to save extra for a home purchase  Participants must attend four extra workshops about buying a home.  Must be able to show ability to get a mortgage and be financially ready to purchase a home.  There is no guarantee that you will be accepted into the Enhanced Home Ownership IDA Program, so you must have a second goal.

Your Savings Matched Credit Total Maximum Savings $1,000$3,000$4,000 Maximum Savings for Enhanced Home Ownership IDA $2,000$6,000$8,000 How The Match Works 3:1

You must:  Live in Winnipeg  Be able to open a bank account  Be willing and able to attend Money Management Training

You must:  Have a positive attitude and realistic goals  Household income must be at or below the program’s income cut-offs Household members include everyone living in the same home as you who is related by blood, marriage, adoption, guardianship / foster care, or common-law. This includes all family members who share your home (children, parents or grandparents, stepparents, aunts or uncles, cousins, etc). It does not include roommates.

Family Income SC Program Cut - Off IDA Program Cut-Off 1 person$16,670$26,670 2 persons$20,760$33,210 3 persons$25,520$40,830 4 persons$30,980$49,570 5 persons$35,140$56,220 6 persons$39,630$63,410 7 or more persons$44,120$70,590 Saving Circle Cut-Off = 75% LICO IDA Cut-Off = 120% LICO *Please Note: If the income you receive through the Canada Child Tax Benefit puts you over the income cut-off, please apply anyway and discuss your situation with an Asset Building Program Coordinator.

Legal Judgments Must be free from current and pending legal judgments Proof of Income Need to show proof of current income for all household members Conditions

Involvement in Asset Building Programs You are not eligible for the Saving Circle Program if you or someone else in your household has previously received funds from the Saving Circle or IDA Programs. You are not eligible for the IDA Program if you or someone else in your household has previously received funds from the IDA Program. If you have received funds from Saving Circle Program you can still apply for the IDA program. *ONE PERSON PER PROGRAM PER HOUSEHOLD

 If you are on Social Assistance your benefits will not be affected by the money you receive from the program.

1. Open an account at Assiniboine Credit Union. 2. Attend workshops. 3. Make monthly deposits. 4. The Saving Circle or IDA Program will match $3 for every $1 you save. 5. Purchase your asset!

You MUST attend Money Management Training once a week for 10 weeks We offer classes: in the afternoon in the evening on Saturdays

 You MUST complete Money Management Training before you can use the money from the program.  If you’ve never completed Money Management Training, or if you completed it more than 3 years ago, you will need to attend and complete Money Management Training before you can use the money from the program.  To take out the money, you must contact a Program Coordinator.

 Fill out application  Provide supporting documents For each person in the household who receives income you must include  Proof of all sources of current income. For example: A recent pay stub A budget letter from EIA An Employment Insurance statement A Resettlement Assistance letter

Steps to Applying for Saving Circle & IDA Sign Up For The Interest List Sign up for the interest list and receive a letter in the mail inviting you to an Asset Building Programs information session. Attend An Information Session Sign up for and attend an Asset Building Programs information session and pick up a Saving Circle or IDA Program application. Submit Your Application Submit your Saving Circle or IDA Program application with all required Proof of Income documents. Application Meeting If your application is eligible: You will be invited to attend a meeting to discuss your application to the program. Intake / MMT Starts If your application is accepted: You will be invited to attend a meeting to officially enter the program. By July 14 th August 9 st – 17 th By August 25 th September 7 th – 20 th October 4 th – 8 th #5 #4 #3 #2 #1

Priority Groups We are especially interested in working with individuals and families who face multiple barriers. Examples include: o Aboriginal, (First Nations, Métis, and Inuit) o Newcomers o Refugees o Youth at risk o People living with disabilities o Ex-offenders Please note that this is not a complete list. We are very interested in hearing about your own situation. You will have a chance to talk about your situation in your application and at your application meeting.

ABP Partner Sites The following organizations also offer Asset Building Programs If SEED is unable to accept you, we may be able to refer you to one of the programs run by our partners. If you want your application referred to one of these organizations, please fill out and sign the Referral to AssetBuilders Partners section on the last page of the application. Saving Circle ProgramSaving Circle and IDA Programs  BUILD  Urban Circle Training Centre  Ma Mawi Wi Chi Itata Centre  Villa Rosa  PluriElles  Nor’West Community Health  MacDonald Youth Services  Rossbrook House  Fort Garry Women’s Resource Centre  Society for Manitobans with Disabilities  IRCOM  SEED Winnipeg

THE DEADLINE for submitting your Saving Circle or IDA application is: Friday, August 25 th, 2011 NO LATER THAN 4:30PM Late applications will not be accepted.

Questions? Call