Since 1997, United Way of Metropolitan Atlanta has used Individual Development Accounts (IDA) as one strategy to help hard-working families save for the purchase of an asset, such as a home. The IDA program assists people in achieving financial independence by providing the skills to:
- Develop a budget and set goals
- Establish regular savings habits
- Build assets for long-term economic security
The program matches the savings of families, up to one to five times the size of each deposit you make. For example, if you receive a 2:1 match, each time you deposit $25, you will get an additional $50 toward your savings goal.
IDA's can be used to:
- Purchase a home
- Pay for education expenses (post-secondary or job training)
- Purchase assistive technology
- Start a small business
The IDA program meets these objectives by providing financial literacy and counseling as well as other asset-goal specific training to IDA participants. Since its inception, more than 800 people have successfully completed the program and either purchased a home, opened a business or obtained additional education for economic success.
The IDA program is only available through approved community partners. Please choose one of the following for more information:
Please click here to request an IDA application, or email us for more information.
Support for the Individual Development Account Program is provided by Americans for Independence Act (AFIA).
Our banking partners:
