Child Development Account
Lakota Funds' Child Development Account (CDA) program is a matched savings program geared towards 1st-8th grade students and building the family core. Lakota Funds "seeds" each account opened through the CDA program with a $50 deposit. Families that participate in the CDA program deposit $100 throughout the year in their child’s savings account, which will then be matched by Lakota Funds 3:1. Thus at the end of the school year the child will have $400 in their savings account. This pattern of savings continues for 8 years, and the savings account grows throughout childhood. One annual withdraw is allowed for school supplies or medical expenses for the child.
In addition to the matched savings component of the CDA program, participating children and families take part in training and education to provide a solid foundation that helps children understand the benefits of savings and how to be responsible for their account. Starting in the 1st grade, children attend monthly lessons that include financial literacy education and child development activities. Each family attends quarterly meetings where they participate in financial literacy and family building activities.