Matched Savings Accounts (IDAs)

About

Individual Development Accounts (IDAs) are matched savings accounts that allow individuals and families to save and generate money for a specific savings goal. 

For every $1 you save, you receive a match of an additional $3. If you save the maximum amount of $3,000 of your own money during the course of the program, you will receive $9,000 of matching funds to be used for your goal.

NeighborImpact offers the following types of IDAs:IDA_Type_Info.png

Requirements

  • Participants’ household income must be lower than those listed in the table below, with a net worth of less than $60,000 at the time of enrollment.

IDA_Requirements.png 

  • Participants must complete four workshops on personal finance, in addition to one-on-one coaching. Additional education is required for specific IDAs.

  • Further restrictions and requirements apply.

If you are interested in applying for this program, please complete the​ intake form and return it to us via email at homesource@neighborimpact.org.

 

 
Individual Development Accounts (IDAs)

“It was scary not knowing if I was going to be able to put $45 in an account every month with having to provide for two children being a single parent, I just had to make sure it happened…Finally in 2011, I am signing on a house, my dreams came true!” -- NeighborImpact IDA Client

“Because of this program I am about to own my first home. This is a dream come true for me and my son.” -- NeighborImpact IDA Client