• Allston Brighton CDC
  • Cambridge Economic Opportunity Committee
  • Cambridge Housing Authority
  • Codman Square NDC
  • EMPath
  • Heading Home
  • Homeowner's Rehab, Inc
  • Jewish Vocational Services
  • Lawrence Community Works
  • MAHA (Massachusetts Affordable Housing Alliance)
  • Massachusetts Museum of Contemporary Art
  • Quaboag Valley CDC
  • Somerville Community Corporation
  • The Neighborhood Developers
  • Asian Community Development Corporation
  • Compass Working Capital
  • Jamaica Plain Neighborhood Development Corporation
  • One Family Inc.
  • 1199SEIU Massachusetts
Our Work

Building Assets

Asset building programs help people to learn, plan, grow their personal savings, and safely invest in life-changing assets. In some cases, these strategies complement and/or build upon public programs that stabilize incomes and reduce expenses for the working poor; employment assistance, subsidized housing, daycare subsidies and micro-business income.

Matched Savings Programs

Building a bridge from today’s realities to tomorrow’s opportunities.

The Midas Collaborative designs matched savings programs that combine incentives, support and access to help people build assets, where low-wage workers and microentrepreneurs invest in their futures. Multiple matched savings programs are operating in partnership with member organizations across Massachusetts. Program participants commit to save a fixed sum monthly in a dedicated savings account for a set period. Midas matches their savings with a 1:1 to 4:1 ratio so they can purchase a life-changing asset. Assets purchased include first homes, higher education, small businesses, and more. For lower income participants transitioning into stable employment and housing, we offer asset matches for purchases that reward personal goals and maintaining modest savings, leading to investment in  vehicles, computers, rainy day funds, or other assets that enhance income and stability.

National research has shown that matched savings programs – previously called Individual Development Account (IDA) Programs – increase savings and protect homeowners from foreclosure. Studies also show that children of parents who save have better academic and social outcomes. 

Midas has helped nearly 1,700 low and moderate income matched savings participants in Massachusetts. Our low and moderate income savers are located across the state and are saving, learning, and planning for their new assets. Of the nearly 1,700 that have enrolled at our member sites, $2.1 million has been saved, earning a match of over $2.8 million. Investors have attended almost 18,000 hours of financial and asset training to build their financial capacities. The 791 recent graduates' investments into homes, education, small businesses, and other assets has resulted in over $46 million (value of assets) into the Massachusetts economy. Midas programs have higher retention and graduation rates than the national averages for matched savings programs. An independent program evaluation was completed in March 2011. 

These programs are managed in an efficient collaborative network model which provides for quality management, lower administrative costs, and economies of scale while providing community-specific program designs and lower barriers to entry for new programs.

  •  Midas provides assistance in design and implementation, training for staff, back-office fiscal management assistance, customized policies and procedures, match funding, savings account management, data collection, and evaluation.
  •  Midas members assess the needs of their communities and provide direct service to matched savings investors; recruitment, training, and counseling or coaching.

For more information about creating matched savings programs for your clients, please contact Danielle Osterman

Invest in College Success

In 2014, Midas launched Invest in College Success (ICS), an innovative public-private partnership designed to help community college students make informed decisions on how to manage college costs and, in doing so, increase their likelihood of continuing higher education year-to-year and completing a college degree. Elements of the pilot includedan educational matched savings program,  financial education classes, virtual college affordability advising, and basic and advanced financial coaching. 

Over 1700 students have participated in ICS over two years, creating a support network for students while building financial capability and assets while pursuing their educational dreams. Partners in the two year pilot included Bunker Hill, Northern Essex and Springfield Technical community colleges, uAspire and evaluator The Federal Reserve Bank of Boston (the Fed).  Learn more about the pilot outcomes and learnings from Midas' final summary and the final evaluation report written by Sarah Savage of the Fed. 

"Saving for my education through Midas has been important to me because it was the first opportunity since a piggy bank to save a percentage of my income and watch it accrue over a longer period of time. The savings allowed me to take more classes and worry less about paying for school." Michael C., ICS Matched Savings Graduate at Bunker Hill Community College.