Specifications include, but are not limited to: 1) Establishing savings accounts for the selected participants, within the following parameters: a. Selected participants may not be denied access to a savings account due to negative information found in banking history. b. Any required minimum deposit must be reasonable and low. c. No monthly or maintenance fees throughout the life of the account. d. No low-balance fees throughout the life of the account. e. No dormancy fees following the final deposit to the account from SHA. f. Other fees must be reasonable. Fees may not be charged to a $0 balance account, causing it to carry a negative balance. g. Participants must be able to opt to receive monthly paper account statements without incurring fees. h. Online/app access to the account may be an option but must not be required. i. Account holders must be issued debit cards that provide them access to their account balance. 2) Acceptance and distribution of monthly ACH deposits from Salem Housing Authority to individual participant savings accounts. a. Deposits will be provided by SHA for each account holder for a period of up to 24 months. 3) Reporting to assist with the evaluation of the program. Such reporting may include, but is not limited to: a. Providing information regarding participation in financial education
