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learn$ave Project: Final Reportfeatures, and earning very low interest. Participants wereable to make deposits and withdrawals of their own fundsdirectly from the account using a wide range of optionsincluding branch banking, automated-banking machines,on-line banking, pre-authorized transfers from otheraccounts, etc. The financial institutions did not charge fordeposits, but did charge a flat rate of $1 for each withdrawal,in an effort to discourage frequent unmatchedwithdrawals.In addition to meeting the eligibility requirementsfor the project, those participants who were entitled tolearn$ave matching credits also had to meet financialinstitution requirements to open a deposit account beforethey could open a learn$ave account. This included identificationrequirements (under federal banking regulations)as well as a review of their financial history (determinedby internal bank policy). Participants were informed ofthese conditions in advance of their enrolment and veryfew participants were ever turned down by participatingfinancial institutions for their learn$ave deposit account.As mentioned, the matching credits were neverdeposited into the learn$ave account but rather were anaccumulated future entitlement until such time as theparticipant “cashed out” his or her savings for an eligiblegoal. Participants received regular account statementsfrom their financial institution, as well as separatestatements from their learn$ave delivery agency with theadditional information on the value of the accumulatedsavings credits. These latter statements were generatedby the local project staff using the Project ManagementInformation System (PMIS, discussed in greater detaillater in this chapter) and drawing on account informationshared through secure data transfers from the financialinstitution.When they exited the project, participants were ableto convert their learn$ave accounts into regular depositaccounts within the host financial institution. In fact,for some participants, this may have been their firstre-introduction or at least intensification of a relationshipwith a mainstream financial services provider. Chapter6 of this report presents evidence of the degree to whichparticipants’ financial integration was enhanced underlearn$ave.Uses of the matched creditsThe two main purposes for which the matched creditscould be used or “cashed out” were in accordance withone’s saving stream/goal: (1) education or trainingand (2) micro-enterprise (small business) start-up.The credits were generally expected to be used for theparticipant’s own education or small business start-up,depending on the saving stream. However, given thatonly one eligible household member could take partand recognizing that households tend to pool resources,credits could also be transferred to another adult familymember who had been eligible at the start of the project.Participants could use their earned credits in any numberof smaller withdrawals or could withdraw a larger lumpsum all at once.Education stream participants had to use their creditsfor learning purposes only. The credits could be used tocover tuition costs. In addition to tuition, certain othercosts related to adult learning could be covered bylearn$ave funds. These were labelled “learning supports”and included books and computers, as well as child careservices and disability supports unavailable from governmentprograms. Participants could use up to 50 percent of their accumulated learn$ave funds (deposits andcredits), to a maximum of $1,500, for supports to learning.Cheques for supports to learning were made out tothe vendor selling the good or service, just as the chequesto cover the tuition. Also, in the rural communities ofGrey-Bruce and Digby-Annapolis, participants could usetheir credits to cover transportation costs to sometimesdistant education institutions.For micro-enterprise stream participants, small businessactivities eligible for matching credits had to be partof a new business venture that required no more than$10,000 in start-up capital from all sources. A businessplan was needed prior to receipt of the match funds,which could also be used to cover the cost of developing abusiness plan.Financial management training and case management servicesTraditional IDA approaches offer a mix of financialincentives and social services that are thought to worktogether to improve participant outcomes. In focusgroups and interviews, IDA program participants oftencite the financial incentive as the major factor that drewthem to apply but attribute much of their success tothe attention and support received as part of the socialservices of the program (Sherraden, McBride, Johnson,Hanson, Ssewamala, & Shanks, 2005). Most learn$aveparticipants received financial management training andenhanced case management services, in addition to thematching savings credits. These included all clients inthe learn$ave-plus program group at the experimentalsites, all participants at the non-experimental sitesand the subset of income assistance participants at theexperimental sites.Social Research and Demonstration Corporation Chapter 2 | 13