Dupaco's MoneyMatch is a matched savings account designed to encourage lower-income individuals and families to save for wealth-building assets and build toward financial stability. The savings of a participant are matched dollar-for-dollar up to $2,000 from the Dupaco R. W. Hoefer Foundation, a 501(c)3 organization that enhances the Dupaco mission of financial empowerment. The foundation provides direct program support for many Dupaco strategic partnerships, including the Dupaco MoneyMatch.
Assets that MoneyMatch participants can achieve:
Individuals must meet certain guidelines, including income and net worth, to be eligible for the MoneyMatch. Click each icon above to see the guidelines for each asset.
Who can benefit from a Dupaco MoneyMatch?
The ideal MoneyMatch candidate:
- Wants to attain homeownership, but not sure you are ready yet with savings or other financial items
- Wants to attain post-secondary education or training to improve their career opportunities
- Wants to start their own business and is ready with a business plan
- Has a need to purchase a vehicle to improve their job opportunities
- Is ready to commit to a savings plan and gain the financial education to work on their plan for asset ownership
Eligibility guidelines for Dupaco MoneyMatch:
- Household income is 300% or less than the applicable Federal Poverty Level at the time of the application. Household income includes all individuals living in the household, including dependents.
- Applicant must have earned income
- Participant household may have no more than $10,000 in net asset wealth upon enrollment (not counting one home or one automobile)
- Applicant must meet the age requirement (refer to asset guidelines above for age requirements)
- Applicant must be, or be able to become, a member of Dupaco
- Applicant must meet the qualifications for loan approval at the time of asset purchase and receive any applicable asset financing through the credit union
Dupaco MoneyMatch Success Stories
Coralita Shumaker attended a workshop four years ago when the seed of a dream was planted.
Realizing that homeownership might be possible, Shumaker worked with Dupaco's Krystal Frederick to save up to buy her own home...
Tami Paisley, a single mother of two, was able to save up to purchase a three-bedroom home that was renovated through the Housing Education and Rehabilitation Training (HEART) program....
Ermina Soler grew up in a tenement in the Brooklyn, N.Y., projects, mired in generational poverty. Thus, she always lived in rental properties, at times even relying on housing assistance.
Soler developed and followed a savings plan that allowed her to save up for a down payment on her first house...
Interested in Dupaco's MoneyMatch?
If you are interested in applying for Dupaco's MoneyMatch, click Apply below to download and print the application and participation agreement.
Contact Michelle Becwar, Lead Education Impact Architect, with any questions at 800-373-7600 / 563-557-7600, extension 2601 or firstname.lastname@example.org.
MoneyMatch and other individual and family empowerment programs are made possible by the Dupaco R. W. Hoefer Foundation. Consider making a tax-deductible contribution to the Foundation.