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!!

https://www.vistashare.com/ot2/ssview/intake/c248c1f2d92a403e9177aa5c12ff4037/

 

 

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:

  1. First home;
  2. Business capitalization; or
  3. 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