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Meeting
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      Individual Development Accounts (IDAs)
What is an Individual Development Account? The IDA program helps low-income individuals and families save, invest and make purchases to better their lives. Assets provide security for families, increase wealth and self-sufficiency and offer something of lasting value that can be passed on to children. In this program, participants use matched savings accounts to:
How is money saved in an IDA? Account holders get trained in financial education, homebuyer education and/or micro-enterprise development and receive financial training to help them plan a family budget and save. For each dollar the account holder saves the state matches a dollar (up to $4,000). Account-holders can draw money out to use towards one the allowable purchases. Who can save in an IDA? To be eligible to save in an Individual Development Account, you must have a household income that is at or below 80% of Area Median Income (AMI) or 200% of Federal Poverty Line (FPL) whichever is greater in your local area.
How do I enroll? If you would like to enroll, please contact the IDA administrator in your area. The following is a list of agencies that manage IDAs: United Way of King County Serving: King and Snohomish Counties Contact: Dave Sieminski, 206-461-4934 Spokane Neighborhood Action Programs Serving: Spokane County Contact: Kerri Rodkey, 509-456-7174 Diocese of Yakima Housing Services Serving: Mabton and Granger Contact: Isabella Garcia , 509-965-7100 Housing Authority of Tacoma Serving: Tacoma and Pierce County Contact: Karen Compton, 253-682-6209 Lower Columbia Action Council Serving: Cowlitz and Wahkiakum Counties Contact: Jean Marshall, 360-578-4243 Housing Authority of Island County Serving: Island County Contact: Teri Anania, 360-678-4181 |
| © 2007 Statewide Poverty Action Network 1.866.789.7726 | info@povertyaction.org |
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