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Individual Development Account

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Individual Development Account
A savings account for persons with lower income. The funds put into an IDA are matched by a public or private organization. One may use the funds in an IDA for educational purposes, starting a business, or buying a first house. IDAs are accompanied by programs for credit improvement and other classes to help account holders move up from poverty and into the middle classes.


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The foundation offers an individual development account (IDA) program through Iowa credit unions.
The Individual Development Account program was started five years ago.
Katharine Emlen, owner of Creative Mind Publications in Eugene, said she saved $5,000 through eDev's individual development account program.
 
 
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