On Monday, Aug. 10 American National Bank donated $7,500 to a new program at Blue Valley Community Action called Individual Development Accounts, which will help some people to start or expand a small business, buy a house or to pay for college.
This program, which has also been funded by Union Pacific, will help the community because of the investment that these people will make. It also serves as a way to reduce poverty and its effects.
Rick Nation, CEO of Blue Valley explained that this program is designed to help people to obtain assets. By helping people to attain assets, it gives them something that can help them in case a personal crisis occurs.
“The program is a federal program to develop assets for individuals,” said Nation. “One of the things that was found in research was that for people in poverty, it's not just a question of income; it's a question of assets. Rarely do they have assets to fall back on.”