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Partnership
Accounts for Individual Development, nfp, (PAID) is a not for profit
corporation whose mission is to support individual development accounts (IDAs)
and to provide tools and training to local community organizations for the
promotion of financial literacy education for low and moderate income families.
Founded in the Spring of
2001, PAID was an inspiration of the Predatory Lending Taskforce. The Taskforce
saw a need for proactive programs in the community to combat the abuses of
predatory lenders. By creating a program which would encourage participants to
learn positive financial practices while at the same time saving for a large
asset purchase, the Taskforce hoped to combat these deleterious practices.
PAID has partnered with
nine local community organizations, from the local housing authority to
churches and other non-profit organizations. This collaboration has created a
unique program structure which provides a unique opportunity for these
organizations to offer an additional program to their clients and members,
while allowing PAID to tap into the expertise of these groups.
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