The IDA Program Overview

Individual Development Accounts (I.D.A.’s) are savings accounts that can be used only for the purchase of your own home, improvement or start-up costs for your own small business, or tuition to go to college. Accounts are held at local financial institutions. All participants receive financial literacy training that includes workshops for reviewing one’s credit, setting up a budgeting and savings schedule, and other basics of money management. The program is designed to help participants work to develop financial independence and to purchase the purchase of your own home, improvement or start-up costs for your own small business, or tuition to go to college.