A new program will help low income tribal members save money for the purchase of their own home, and information sessions are scheduled in St. Ignace, Sault Ste. Marie, and Newberry next week to explain the program. Offered by the Sault Ste. Marie Tribe of Chippewa Indians, the program will match people's savings deposits in a home ownership account. Tribal members who live in Chippewa, Mackinac, and Luce counties may participate.

Sault Tribe Housing Authority's "Let's Save" program will allow members to deposit $50 to $75 into a special savings account, called an individual development account, to work toward the purchase of a home. Participants' savings deposits will be matched 2.5 to 1 to help families willing to save regularly for two to three years.

Upcoming information sessions will be held at the following times and dates to explain the program:

Chi Mukwa Hospitality Room, Sault Ste. Marie: Tuesday, January 6, at 6 p.m.

Newberry Community Center, Newberry: Wednesday, January 7, at 6 p.m.

Kewadin Shores Conference Room, St. Ignace: Thursday, January 8, at 6 p.m.

Sault Tribe Housing Authority will build four new homes in the St. Ignace area within the next two years. Families interested in these homes must be eligible and signed up for the Let's Save program.

The program is part of a new and innovative approach to combating poverty that focuses not just on meeting the most immediate needs of low-income families, but also on the long-term benefits of helping working poor families acquire a modest but decisive stake in their communities, the tribe reported. The program is supported by Central Savings Bank, which will be the depository for each participant's savings account.

To qualify, participants must meet income guidelines (annual income of less than $42,900 for a family of three, for example), and must have some regular source of earned income. In addition, all program participants take part in a 12-part personal finance and money management workshop series. This personal finance workshop series is presented with assistance from partner banks.

More information is available from Sault Tribe Housing Authority.