For many seniors, maintaining their homes without financial strain is a challenge. Regina Storms, a longtime homeowner, understands the importance of preserving her home’s value. “It makes a difference for me to maintain my property without going into any kind of financial hardship. I think it’s important for me to stay in my home and be able to take care of it.”
Thanks to the Senior IDA program through a partnership with Guardian Savings Bank/Union Savings Bank and Working In Neighborhoods (WIN), Regina and nine other seniors have the opportunity to do just that. They were on hand at WIN’s campus January 29 for this year’s program kick-off.
The Senior IDA program is designed to assist homeowners aged 60 and older who need to make necessary home repairs. Participants must own and reside in their homes, attend all program sessions—and commit to saving at least $500 over six to nine months. WIN’s financial literacy counselor, Myra Boggs, said, “By making monthly deposits between $25 and $50 at a designated Union Savings Bank location, participants qualify for a 3-to-1 match, receiving an additional $1,500 to fund their home repairs.”
Keith L. Borders, Chief Corporate Responsibility Officer VP Community Development at Union Savings Bank/Guardian Savings Bank, sees the program as essential for both homeowners and the broader community. “We know from over 40 years of experience that every homeowner will eventually need resources to maintain their home’s value. The Senior IDA program helps folks do that while also fostering trust. WIN is a leader in trust, and our partnership is about strengthening neighborhoods through relationships.”
Over the past nine years, the initiative has supported numerous families, thanks to the collaboration between WIN and local banks. “This program gives homeowners optimism. They see a path forward, knowing there’s an organization and a bank in their community that believes in them,” Borders adds. “That’s what gets me excited—seeing individuals feeling positive about their homes and futures.”