IDAs are special matched savings programs that assist working individuals to acquire productive assets that serve to increase financial stability and security, e.g. a first home, higher education, or a small business.
IDA programs help establish a pattern of regular saving, provide an incentive for saving in the form of match money, and offer education and training that helps participants learn long-term money management skills. The United Way Housing IDA Program is designed to help participants pay for the down payment and closing costs on a first-home purchase. Participants must be first-time homebuyers.