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

Program Manuals and Forms

2018-2019 IDA Program Manual
2018-2019 IDA Program Manual Appendices - Updated March 27, 2019

2016-2017 IDA Program Manual
2016-2017 IDA Program Manual Appendices
2015-2016 IDA Program Manual
2014-2015 IDA Program Manual

Training/Reference Materials

2018-2019 IDA Training Presentation Slides
2018-2019 IDA Traning Presentation Video

IDA Outcome Tracker Webinar - Recorded April 2, 2019

IDA 2018 Match Amounts and Rates

Click here to access a listing of all Indiana IDA Program administrators

Notices

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