Individual Development Accounts (IDA)
The IDA program assists low-moderate income Hoosiers attain their goals through matched-savings incentives and financial education. Operating behind the rationale that income alone is not enough for individuals to break trends of generational poverty, the IDA program focuses on asset building as a key component towards family and self-sufficiency. Participants in the IDA program are eligible to receive up to $4,500 in state match funds towards one of the eligible asset goals mentioned above. Participants also receive one-on-one counseling and 6+ hours of financial education covering topics such as budgeting, savings, credit, banking, taxes, and other money management strategies.
Qualified participants set savings goals and make regular savings deposits. Every dollar they save is matched, at a minimum for $3 for every $1 saved, to help them reach their goals so they can:
- Purchase a primary residence located in Indiana
- Expand a small business located in Indiana
- Obtain education job training
- Make essential repairs to owner-occupied housing
- Purchase a vehicle for employment, education, or job training purposes
2018-2019 IDA Program Manual Now Available
A training on the new manual will be hosted at IHCDA office in Indianapolis on February 5th.
Click here to register for the training.
If you have any questions, please email IDA@ihcda.in.gov .
Program Manual and Forms
Click here to access a listing of all Indiana IDA Program administrators
Notice IDA-017-02 - IDA Program Administrator Application Now Available
Notice IDA-017-01 - 2017-18 IDA Tax Credit Program Administrator Application Now Available
Notice IDA-016-01 - IDA Administrator Application Now Open (updated September 6, 2016)
Notice IDA-015-02 - Closing Accounts for Expired Accounts
Notice IDA-015-01 - Closing OOR Accounts for Active of Expired Participants