Individual Development Accounts (IDAs) are matched savings accounts, designed to help low to moderate income individuals accumulate assets and build wealth for purposes of:

• Higher education
• Small business capitalization
• Home purchase

In order to qualify for the IDA program, participants must:

• Not exceed 200% of poverty guideline or within TANF and EITC limits
• Have earned income, one contributing household member must be employed
• Must save for a minimum of six months
• Must not exceed net worth of $10,000, excluding a home and one vehicle
• Be able to repair credit with available income, within the two years of the program

Participants who qualify for the IDA program are asked to save $50 a month, for a maximum of $1,200 for a period of no less than six months, no more than two years. Savings will be matched at a 2:1 rate, which will accumulate to $2,400, giving the account holder a total of $3,600 to invest in the asset of choice.


$mart Change Program

The $mart Change Program provides women with the knowledge and information about topics to improve their financial condition through $mart Change workshops, educational forums, and one-on-one housing and financial education. Women will receive information about maximizing community resources, most beneficial tax options, credit issues, and preparing for additional housing opportunities. Program participants will receive items pertaining to workshop topics including budget log books.

These items will help them engage in the classroom activities as well as the independent work necessary to make a positive change in their financial habits.