As of 8/1/2017, the IDA Program is Closed




The Individual Development Account Program (IDA) is an asset building program that helps low-income people move toward greater self-sufficiency by accumulating savings and purchasing long-term assets.   We will match $2,000 in participant savings for qualified purchases over an accumulated savings period of one year.

The program begins with the participant creating a customized savings plan.  The participant then deposits money each month into their designated IDA bank account, working toward completing their specified savings goal. When the participant has reached their savings goal they will receive a dollar for dollar match that will enable them to purchase their goal. Participants will also be required to attend specialized financial literacy training for their specific goal and work closely with their IDA administrator to ensure the successful completion of the program. To qualify, your income must not exceed 200 percent of the Federal Poverty Level (see table below).

The money that the participant successfully saves and the corresponding
matching funds from ACTION-Housing can be used to obtain the following assets:

  • Home Purchase
  • Education for yourself or child
  • Starting a new business