Individual Development Account
Would you like up to $4,000 to help you realize your dream?
We are now accepting IDA Applicants. Click below to get started!!
What is an IDA?
An IDA is a special savings account. You can save up to $4,000 over 5 years and your savings will be matched $ $1 for every $1 you save.
So, after you finish the program you could have $8,000 for one of the following:
- First home;
- Business capitalization; or
- Post-secondary education or training.
What do I have to do to be part of the IDA program?
You must make a commitment to complete the IDA program. The program requires that you:
- Commit to a Savings Plan
- Attend a Education Course
- Commit to working with a Case Manager
- Attend Savings Club meetings once a month
- Use your savings and match for one of the allowable purposes
Who is eligible to join the IDA Program?
- Income and Net Worth
- Under 200% Federal Poverty Level or
- Eligible for the Earned Income Tax Credit and
- Net worth cannot exceed $10,000
- Households that qualify to receive TANF
Where can I learn more about the IDA Program?
To find out if you are eligible for the Program or to learn more:
- Call Roy Watson at (213) 325-3037 or
Come to an Orientation Session at 3699 Wilshire Blvd., Suite 610, Los Angeles, CA 90010