Individual Development Accounts

Individual Development Accounts are dedicated savings accounts, similar in structure to Individual Retirement Accounts (IRAs), that can only be used for purchasing a first home, education or job training expenses, or capitalizing a small business. They are managed by community organizations and accounts are held at local financial institutions. Contributions for lower income participants are matched using both private and public sources. Additionally, all participants receive economic literacy training that shows them how to clean up their credit, set up a budgeting and savings schedule, teaches them the basics of money management and participate in the new global economy.

Learn more about IDA's

State IDA Profiles