The Iowa Credit Union Foundation’s Individual Development Account Program (IDA) offers matched savings accounts for families with limited resources who meet income-based criteria.
Participating credit unionshold and manage the IDAs and establish a relationship with each participant to monitor his or her progress towards financial independence.
These matched savings accounts are connected to services to help individuals and families eventually acquire an economic asset toward long-term financial stability. Typical asset goals for the savings and match are:
The purchase of an automobile for work
ICUF secured funds for the IDA Program from a private foundation, the Iowa Division of Community Action Agencies, the U.S. Department of Health and Human Services, the Northwest Area Foundation, and United Way of Central Iowa. Fundraising for the program is ongoing.