What is an IDA?
An IDA is a matched savings program designed to help you save for and purchase your asset dream. Participants open special savings accounts, (IDA's), and save each month. When you're ready to buy a house, lauch a business, or go to school, your savings is matched. Your savings remains in your possession - if you decide to withdraw from the program, you keep your savings.

2 to 1: Participants save up to $2,000, which is matched by a grant of up to $4,000, the total of which may be used for:
1. Down payment on a first-time home
2. College or vocational education or
3. Capitalizing on a small business

While you are saving you can:
1. Strengthen your financial knowledge
2. Sharpen your money management skills
3. Repair your credit record

Program Objectives
Our objective for the IDA program is to help low-income working families to become economically self-sufficient by providing the motivation, information and skills to:

A. Set goals for their future
B. Establish regular savings habits and disciplines, and
C. Invest in assets that will allow them to realize their goals.

Participation Requirements
Once accepted into the program, participants must meet the following conditions to remain enrolled:

1. Open an IDA account at a participating financial institution
2. Complete the financial skills course within the first 6 months of enrollment
3. Complete the asset-specific course for the selected asset
4. Make a savings deposit of at least $10 per month for a minimum of 6 months and a maximum of 3 years
5. Do not miss more than 2 deposits during the savings period
6. Do not make withdrawals that are not approved by the IDA Case Manager

Eligibility Requirements
Individuals or families meeting all of the following criteria are eligible to apply, and participants will be selected from among the applicants:

1. Must be employed at least six months
2. Maximum annual household income up to 200% of the Federal Poverty Guidelines
3. Net worth (assets owned minus debt owed) less than $10,000, not including a primary dwelling unit and one vehicle