WHAT IS AN IDA?

An IDA program helps clients develop a positive attitude toward money and helps them start saving by “matching” a portion of their deposits.  For every $1 a participant saves, SELF contributes $2 toward the specific goal. They can save up to $1,000 that will be matched by $2,000!  Households with two qualifying adults can receive up to $4,000 in matched savings!

IDA clients can save for one of three goals: 
  1)  Owning a home
  2)  Continuing education
  3)  Starting a small business



What steps do I take to achieve my goal?
  • Call for details on an upcoming orientation session and eligibility criteria.
  • Attend the orientation session and enroll in the program.
  • Declare a goal specific asset, then participate and complete a money management education course
  • Create a realistic budget  and receive money-saving tips and ways to reduce debt for a more stable future
  • Open a savings account and save $25-125 per month of earned income to go toward a certain goal
  • Complete goal-specific training (Homebuyer education class, Business plan writing sessions, etc.)
Back To Programs