Individual Development Account
The S.U.N. (Save Up Now) Program is an Individual Development Account (IDA) designed to help low to moderate income individuals and families leverage a modest income into long-lasting prosperity, offer a brighter future, and provide a roadmap for lasting social and economic stability. 

By attending financial education classes and asset-specific training, participants learn to make wise financial choices and decisions.  This training helps participants acquire a habit of regular saving while attaining personal financial management skills to become familiar with mainstream financial institutions.  S.U.N. participants can choose to save for one of two areas:

Small Business Development
Participants may choose to save for starting or expanding a business.  Qualified uses of funds include:

-The purchase of land, building, leasehold improvements, inventory, equipment, vehicle, working capital, and equity in your business to help you qualify for a business loan.

-Tuition, fees, books, supplies, required materials related to training, or for a vocational/trade school to advance the participants skills as a business owner.

All purchases must be for business use according to the participants Business Plan and Individual Savings Plan.

Credit Improvement
Credit improvement is defined as a measure taken by an individual in attempts to improve his/her credit worthiness.   Funds may be used for any action taken in order to increase your credit score and help right any negative item reported on your credit report.

How does the S.U.N. Program work?

Match Rate
A 3:1 match rate will be used for the S.U.N. Program.  That is, for every one dollar saved by the participant, three additional dollars will be contributed by the Wind River Development Fund.  Participants may save $2,000 or less in the program.  The S.U.N. program will contribute the 3:1 match rate, with a maximum match rate of $6,000.  This makes the total savings goal less than or equal to $8,000.  WRDF will hold all matching funds until a participant has completed their training, adhered to the savings plan, met their savings goal, and is ready for asset acquirement.  Matching funds will then be paid directly to the asset provider/vendor, not the individual.

Savings Requirements
An Individual Savings Plan is designed to establish the savings pattern to meet the individual goals of the participant.  Monthly deposits of a minimum of $20 will be required.  There is no maximum to the amount the participant can save each month.  Participants will save for a minimum of 6 months and no more than 3 years in the program.  Failure to deposit $20 or more per month will be considered a missed deposit.  Each participant is allowed one missed deposit per year.  Bank statements must be submitted to WRDF within 30 days of receipt.       

Account Ownership
The participant's savings deposit shall be deposited into an account set up by the participant at the financial institution of their choice.  This account must be used solely for the purposes of the S.U.N. program.  The account opened by the participant must be a sole-owner account.

Required Training
Small Business Development:  SAGE (Strengthening and Growing Entrepreneurs) Business Planning Course within one year of enrollment into the program and 8-hour Intensive Financial Training Workshop within six months of enrollment into the program. 

Credit Improvement:  4-hour Credit Workshop within the first six months of enrollment into the program and 8-hour Intensive Financial Training Workshop within six months of enrollment into the program. 

Quarterly Meetings
Participants will be required to meet with WRDF staff quarterly to assess their progress in the program.  Staff will be available at all times throughout the year for those wishing to meet with them.  Other training opportunities will be available throughout the year, in which you will be encouraged to attend. 

Emergency Withdrawal and Leave of Absence
An IDA is intended to help people purchase productive assets.  Thus, any savings withdrawals for non-asset uses are strongly discouraged.  However, in certain emergency situations, participants should contact WRDF for the emergency withdrawal policies.  Participants may, from time to time, be faced with circumstances that make regular IDA savings impossible for a limited period.  A leave of absence is designed to give participants the opportunity to weather short-term financial crises, regain financial stability and ability to save, and remain a part of the S.U.N. program.   Contact WRDF for leave of absence policies.
Application to S.U.N. Program

To apply for the program, contact the Wind River Development Fund to request an application form.

Am I eligible for the S.U.N. Program?

There are four eligibility requirements for the S.U.N. Program. 

Participants must be Native Americans, Native American descendants, or residents that live on or operate their business on the Wind River Indian Reservation.

Participants' source of income must be from earned income through self-employment or employment.

Net assets must be less than $25,000, excluding the primary dwelling unit (including land), and one vehicle per adult, and any tribal trust land.

Participants must have a total annual household income of less than 250% of the Federal Poverty Levels threshold.

2007 Federal Poverty Levels

Household            Federal Earned Income Level (100%)            250%

1                      $10,787                                                          $26,968

2                      $14,291                                                          $35,728

3                      $16,705                                                          $41,763

4                      $21,100                                                          $52,750

5                      $24,744                                                          $61,860

6                      $27,705                                                          $69,263

7                      $31,031                                                          $77,578

8                      $34,116                                                          $85,290