The
Individual Development Program (IDA) is a matched savings
asset-building tool. This
resource allows qualifying families to save earned income for the
purpose of buying a first time home or savings for post secondary
education.
Each participant must complete an Individual Savings Plan, which
lists a savings goal, and complete a financial literacy education
plan.
At the end of the savings plan time period the client is eligible
for a match amount that is given directly to the mortgage company
for a down payment or the post secondary education institution the
participant is attending.
The purpose of the program is to assist in building assets,
which appreciate over time.
