United Way IDA Program: Matching Savings Account for a Home or Vehicle Purchase, Business Assistance, Education Assistance
IDAs (Individual Development Accounts) are savings accounts that give low income individuals and families the opportunity save and build assets. Qualified individuals who open an IDA will receive matching funds towards a specified goal. Contact United Way for info.
- Savings Goal: Purchasing a home or vehicle or opening a childcare center.
- Match: $4 for every dollar saved, up to $2000 for a home or childcare center (up to $8000 match), up to $1000 for a vehicle (up to $4000 match).
- Eligibility: You must be employed, earn below 200% of the poverty line, and not own more than $10,000 in assets not including one primary home and one vehicle.
- Other Requirements: Applicants are required to take 12 hours of financial education and training.