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Individual Development Account

Individual Development Accounts (IDA) are matched savings accounts that may be used for purchasing a home or capitalizing a business. Participants open a savings account in their name at a participating bank and deposit up to $1,500.  While saving, participants work with a Justine Petersen counselor on credit and other barriers to asset acquisition and attend financial education classes.

 

IDA matching funds are made available by local and national foundations, individual donors and the Department of Health and Human Services.

 

IDA accounts are opened for low- and moderate-income families as they progress toward mortgage readiness and business capitalization.  Contact us today to see if you qualify!