Past Program Success
This past year O•N•E saw six individuals graduate from the Ministry of Good Cents, O•N•E's former IDA program. Among the graduates there was a diverse use of accumulated assets; three purchased their first homes, one invested in her tailoring business, two are pursuing their Bachelor of Arts degrees at local universities and one completed her Masters of Business Administration.
Five of the participants were in significant debt when they began the program and each of those five have taken life changing steps to reduce that debt by taking a second job, consolidating their debt or eliminating it on their own.
Additionally, at the end of 2006, 35 participants graduated from Project Wealth. Each of these individuals was able to pay down a significant amount of debt and save money each month, resulting in a savings match from O•N•E at the end of the program. The majority of participants invested in Roth or Traditional IRAs, while some closer to retirement age chose to invest in US Savings Bonds or long term Certificates of Deposit.
O•N•E is extremely proud of all of the IDA participants and encourages anyone who is ready to take control of their debt and begin saving for the future to apply for Project Wealth.