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IDA Basics

How IDAs work

An Individual Development Account, or IDA, is a special savings account for people with low incomes. Most organizations will limit applicants to individuals earning 200% or less of the Federal Poverty Income level.

When you save in an IDA, your savings are matched. This means that for every dollar that you save you can receive another dollar or more. While most organizations will provide a one-to-one match, others might provide up to an eight-to-one match.

Typically, IDA savings and match money can be used to buy a house, pay for education or job training, or to start a small business. Please keep in mind that the allowed asset may depend on the providing organization.

In addition to earning matching dollars, you will learn about budgeting, saving, banking and more when you open an IDA. In most cases, individuals who open IDAs (accountholders) are required to attend financial education classes. Accountholders may also receive one-on-one counseling and other training depending the specifics of their local program.

Learn more about how to open an IDA for yourself.

Have a question? Find answers to many frequently asked questions about IDAs.

Find an IDA Program

Looking for a program near you? The IDA Program Directory allows you to locate IDA providers in your area. Either use the map or enter the agency name, city, state or zip code to see a list of programs matching your search criteria.

IDA practitioners: If your IDA program is not listed or if the contact information is incorrect, please e-mail the updated information to idaassist@cfed.org.