Iowa Economic Stimulus Bill Furthers Iowa CUs' Service to Underserved

DES MOINES, Iowa -- Governor Culver has signed into law Senate File 2430, commonly known as the "Economic Stimulus Bill."

By Myriam DiGiovanni | April 30, 2008 at 06:58 AM

DES MOINES, Iowa — Governor Culver has signed into law Senate File 2430, commonly known as the "Economic Stimulus Bill."

The legislation enables Iowa credit unions to continue serving working Iowans through the Credit Union Family Partnership Individual Development Account program, which was recently launched by the Iowa Credit Union Foundation. The foundation is one of many organizations that can apply to use these funds for their program.

Specifically, the legislation updates Iowa law on the regulation of IDAs and appropriates $150,000 to organizations that opt to implement an IDA program in the state. In addition, this legislation will allow IDA accounts for the purpose of purchasing assistive technology by persons with disabilities, such as wheel chairs, hearing aids or prosthetic devices.

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