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Individual Development Accounts (IDAs)
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On the Job
Individual Development Accounts (IDAs)
Program:
Savings accounts to help people with low incomes build assets.
Benefit:
Provides matching funds for deposits made into savings accounts.
Eligibility:
Must be working and have income below 200% of the Federal Poverty Level.
Participancy:
For people with low incomes who want to purchase a first home, invest in higher education, or develop a small business.
FAQs
Frequent Pitfalls
Next Steps: Resources
What is an Individual Development Account (IDA)?
Who is eligible for an Individual Development Account (IDA)?
What if I lose my job while enrolled in an IDA?
How long can I keep my IDA account open?
For what purposes can I use an Individual Development Account (IDA)?
More FAQs...
Participating in an IDA Program that Affects Your Benefits
Failing to Fulfill IDA Requirements
You must have earned income to start an IDA
Most IDAs have a savings cap
More Pitfalls...
Individual Development Account (IDA) Resources
Policy Information About Asset Building
Community Based Organizations
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