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IDA's
Individual Development Accounts
Individual Development Accounts, also known as "IDAs", are a savings account. What makes it special is you receive an additional deposit each time you add to your savings. It is called a match and is usually one to five times the size of each deposit you make. For example, if you receive a 2:1 match, each time you deposit $25, you will get an additional $50 toward your savings goal. You can use IDAs to purchase a home or vehicle, complete a certified training or education program, or start a small business. A typical IDA program includes a four-step process:
- Introduction and Orientation
- Opening the Account
- Economic Literacy Training
- Withdrawal, Purchasing Assets, and Beyond. Owning your own car, house, or receiving an education is the best step on becoming financially independant
To fill out an application please click here.