“Few people have ever spent their way out of poverty. Those who escape do so through saving and investing for long-term goals.” – Michael Sherraden, author of Assets and the Poor
Our Individual development Account (IDA) program provides matching funds at a rate of $2 for every $1 saved by eligible individuals up to a maximum of $2,000. The savings account can be used to purchase a first home, attend post-secondary education or even start a small business while attending free financial education classes.
A total of 104 individuals have participated in the IDA Program. Many are still working hard towards their goal, and of the 49 who have successfully completed the program, 30 individuals have become first time home owners, 16 have used the IDA to help with post-secondary education expenses, and 3 have become small business owners.
When community volunteers asked one graduate who went from living in her car with her children to purchasing a home what made this program any different than others that might be available she said, “This one gave me hope.”
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IDA Program Funders:
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- Bank of America
- Boise City CDBG Funds
- Chase Bank
- Fannie Mae
- Home Federal Bank
- Idaho Association of Mortgage Brokers
- Idaho Housing and Finance Association
- Nampa Housing Authority
- Partners for Prosperity
- U.S. Bank
- Wells Fargo Bank
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| IDA Program Partners: |
- Boise City/Ada County Housing Authority
- Boise State University – McNair Scholars Program
- Catholic Charities of Idaho
- Community Action Partnership Agencies
- Idaho Housing and Finance Association
- Nampa Family Shelter Coalition
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