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SCOTUS skeptical that state abortion bans conflict with federal health care law; Iowa advocates for immigrants push back on Texas-style deportation bill; new hearings, same arguments on both sides for ND pipeline project; clean-air activists to hold "die-in" Friday at LA City Hall.

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"Squad" member Summer Lee wins her primary with a pro-peace platform, Biden signs huge foreign aid bills including support for Ukraine and Israel, and the Arizona House repeals an abortion ban as California moves to welcome Arizona doctors.

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The urban-rural death divide is widening for working-age Americans, many home internet connections established for rural students during COVID have been broken, and a new federal rule aims to put the "public" back in public lands.

2010 Launched Dreams for Many New Mexicans with IDAs

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Friday, December 31, 2010   

ALBUQUERQUE, N.M. - Economic times are still tough, but many households and small businesses in New Mexico will look back on 2010 as a time when saving as little as $1,000 helped start a new chapter in life.

Tamara Key was making near minimum wage at her child-care job and never dreamed she'd be able to own her own home - until she signed up for an Individual Development Account (IDA) through the nonprofit organization Prosperity Works. The program matched her $1,000 in savings 4-to-1.

"I never even thought I would ever own a home, I thought that was a distant dream that would happen to somebody else but it would never happen to me. And now, I'm in a three-bedroom."

Qualifying New Mexicans can open an IDA to start saving for an asset that grows in value, such as a down payment on a house, a business or higher education. Key's new job helping homeless families at Cuidando Los Niños pays better, and she's hoping some of the families with whom she works will be able to open their own IDAs.

In the past five years, about 500 New Mexico families have had their savings matched through an IDA, and the program is estimated to have created more than 330 jobs and $2.2 million in economic benefit to local economies. Key says it allowed her to play a part in the economic recovery by saving enough to get into a home in just one year.

"I don't think we'd have been able to save that much in a year's time. I only had to save a thousand, but it would have taken me probably four or five years to save five thousand."

IDAs are available to New Mexicans who meet certain income qualifications, and other requirements include making regular deposits. The accounts are administered by local banks and such nonprofit groups as Prosperity Works. More information is available at 505-217-2747 or prosperityworks.net.



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