Individual Development Accounts (IDA)
Making dreams come true by providing matched savings for home ownership, post-secondary education or small business for low income working individuals and families
IDA’s are matched savings accounts that encourage low-income working people to save money and acquire assets.
Through IDA’s, individuals can purchase their first home, attend college or job training, or start or expand a small business.
Most applicants will be enrolled in the program for six months to two years.Participants commit to saving at least $50 a month. When they reach their saving goal, their savings will be matched at the rate of 2:1 in order for the participant to purchase the asset.
Yes! For every dollar saved, we will match it with $2.00 — up to $1,500 per IDA account. This means each saver could potentially have a total of $4,500 when they are ready to make their asset purchase.
To be eligible for an IDA, applicants must meet the following requirements:**
- Applicant must be employed and making under 200% of the poverty level at the time of application
- Applicant must live in the area where they apply for the IDA or be a Foster youth, former Foster youth, or Ward of the State
- Applicant must be age 17 or older and must hold a valid Social Security Number or Individual Taxpayer Identification Number
** Other eligibility requirements may apply and will be discussed when application for the program is submitted.
The following agencies in Nebraska offer IDA's. Please contact your nearest agency for more information on eligibilty and application process.
Blue Valley Community Action Partnership
620 5th Street
PO Box 273
Fairbury, NE 68352-0273
Email
402-729-2278
Community Action Partnership of Western Nebraska
2027 10th Street
Gering, NE 69341
Email
308-633-3377
Community Action Partnership of Lancaster and Saunders Counties
210 O Street
Lincoln, NE 68508
Email
402-471-4515
Community Action Partnership of Mid Nebraska
16 W 11th Street
PO BOX 2288
Kearney, NE 68848
Email
308-865-5675
Family Housing Advisory Services
2401 Lake Street
Omaha, NE 68111
Email
402-934-6749
