One third of the people who live in the City of Duluth are living in poverty or are considered to be working poor. Community Action Duluth is doing whatever it takes to help people who are struggling to achieve a better future.





FAIM IDA Information

How it works

Once you become part of the FAIM program, a special IDA savings account is established for you at Bremer Bank. Matched funds are made available to you when you are ready to purchase your asset. You must save for at least six months before you can make a matched withdrawal. When you are ready, a check will be issued to the mortgage company if you are buying a house, the college if you are paying tuition, or to a supplier if you are purchasing supplies for a small business.


FAIM homebuyers, Andy Larson and Family, at closing.
FAIM homebuyers, Andy Larson and family, at closing.

There are just a few requirements:

  • You must save earned income from employment. Income can come from traditional employment or from self-employment.
  • Your assets must be less than $10,000 (not including your vehicle, your house, or your retirement accounts).
  • You must attend financial literacy classes (12 hours of financial education, provided by Community Action).
  • You must attend 10 hours of education in one of the following areas:
    • Home Stretch homebuyer education
    • Higher Education career goals, skills and interests
    • Small Business how to start your own business
  • You are eligible if you meet the following income guidelines:

    FAIM Eligibility

    Household Size Income Limit
    1 $24,120
    2 $31,860
    3 $40,180
    4 $48,500
    5 $56,820
    6 $65,140
    7 $73,460
    8 $81,780
    Add $8,320 for each additional person.

How to Apply

Applying is easy. Simply fill out the applications and return it to the office via mail, in person, fax or scan and email.

Mail to address:
2424 W 5th St. Suite 102
Duluth, Minnesota 55806

For more information, contact:
Sarah at Community Action Duluth

We have more to offer!

FAIM homebuyer, Ginga Newton, holding up her new keys at closing.
FAIM homebuyer, Ginga Newton, holding up her new keys at closing.

Most people need more than just cash to become successful homeowners, entrepreneurs, or college students. You will also receive:

  • A copy of your credit report with a credit score
  • Regular financial coaching to help you achieve your goal
  • Classes on credit repair, reducing debt, saving for the future, and consumer protection

Savings matches are not "giveaways." Participants earn savings matches by saving their own hard-earned dollars and taking other steps to prepare for the future. Matched dollar savings accounts are a way to help hard-working individuals and families with low incomes build a more stable and secure future. Everyone benefits when members of a community have the tools or assets they need to provide for themselves and their families.