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Medical copays reduce health care access in MS prisons; Israel planted explosives in pagers sold to Hezbollah according to official sources; Serving looks with books: Libraries fight 'fast fashion' by lending clothes; Menhaden decline threatens Virginia's ecosystem, fisheries.

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JD Vance calls for toning down political rhetoric, while calls for his resignation grow because of his own comments. The Secret Service again faces intense criticism, and a right to IVF is again voted down in the US Senate.

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A USDA report shows a widening gap in rural versus urban health, a North Carolina county remains divided over a LGBTQ library display, and Minnesota Governor Tim Walz' policies are spotlighted after his elevation to the Democratic presidential ticket.

A Bank Account to "Save the Day" for Low-Wage New Mexicans

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Thursday, May 1, 2008   

Albuquerque, NM - It's a bank account that quadruples savings, but there's a catch. Community Action New Mexico and Wells Fargo are teaming up to offer a limited number of "Individual Development Accounts" (IDAs) to low-wage workers who want to save for something big such as a home, college tuition, or starting a small business. The first $1,000 of savings in the accounts will be matched 4-to-1.

So, what's the catch? Patricia Nie, with Wells Fargo in Albuquerque, says savers will be required to complete a financial literacy course first.

"The course covers a wide spectrum of topics. Among the ideas discussed are banking basics, what's involved in purchasing a home and how to finance your education."

A limited number of IDAs will be available statewide to individuals and families who have earned income but live at 200 percent of poverty or less, which is equivalent to about $40,000 or less for a family of four.

As Community Action New Mexico Executive Director Ona Porter explains, the idea is to 'earn it, save it and grow it.'

"The growth is in taking an asset, learning how to manage that asset to leverage it, not only for more money, but for a better life."

Porter believes the savings growth will also contribute to the local and state economies. For more information on the IDA program, contact your local community action agency or visit www.communityactionnewmexico.org.


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