@article{0749024a41fd470883eb5035a0173f60,
title = "Does Prior Banking Experience Matter? Differences of the Banked and Unbanked in Individual Development Accounts",
abstract = "Using data from the 4-year American Dream Demonstration, this study compares saving performance and program participation of banked (n = 1,538) and unbanked participants (n = 466) enrolled in 14 IDA programs. The study shows banked participants had S$2.74 higher average monthly net deposit (p < 0.05); 5% higher deposit frequency (p < 0.001); and 42% less odds of drop out than unbanked participants (p < 0.001). Moreover, program characteristics such as financial education, monthly saving targets, peer group meetings, and direct deposit are important predictors of program performances. Individual characteristics such as race/ethnicity, home ownership, and income are significantly associated with program performance.",
keywords = "Asset building, Banked, IDAs, Savings, Unbanked",
author = "Michal Grinstein-Weiss and Yeo, {Yeong H.} and Despard, {Mathieu R.} and Casalotti, {Adriane M.} and Min Zhan",
note = "Funding Information: Acknowledgments The authors wish to thank the following foundations for support of this paper: the Ford Foundation, Charles Stewart Mott Foundation, FB Heron Foundation, and Metropolitan Life Foundation for funding ADD research; HUD for the Early Dissertation Grant; the IDA program staff at the 14 research sites of the American Dream Demonstration (ADD); the Corporation for Enterprise Development for implementing ADD; Michael Sherraden, director of the Center for Social Development, Lissa Johnson, ADD research project manager; Margaret Clancy, for ensuring quality of the monitoring data; and Mark Schreiner for data management and preparation. Finally, the paper greatly benefited from the comments of Diane Wyant, Susanna Birdsong, and Roderick Rose. Copyright: Copyright 2010 Elsevier B.V., All rights reserved.",
year = "2010",
doi = "10.1007/s10834-010-9184-5",
language = "English (US)",
volume = "31",
pages = "212--227",
journal = "Journal of Family and Economic Issues",
issn = "1058-0476",
publisher = "Springer International Publishing AG",
number = "2",
}