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Dubuque Woman Reaps the Rewards – and Freedom – of Saving

DUBUQUE, Iowa -- It's hard to imagine the freedom that a vehicle brings until you live without one for a long time.

Delora Beal knows that feeling first-hand.

After three years without a car, the 44-year-old Dubuque transplant is the proud owner of a white 2004 Dodge Intrepid. For Beal, who lives at the Manasseh House, a housing project for low- to medium-income women, the car represents an important step in getting her life back on track.

"It's pretty," she said excitedly of her new purchase.

Beal purchased the car through a savings program at Dupaco Community Credit Union.

In Dupaco's Individual Development Account (IDA) program, the savings of a participant are matched by a dollar-for-dollar grant from the Iowa Credit Union Foundation. Dupaco opens the savings account and provides financial coaching required by the program to help ensure the participant's goals are met.

On Monday – a year and two days after enrolling in the IDA program – Beal bought her car.

Saving $50 from every paycheck, she had accrued $1,900, with another $1,900 matched by the Foundation.

Read more here.

(Photo Credit: Dupaco Community Credit Union)

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