An Individual Development Account (IDA) is a match savings account that enables families with limited financial resources to save and build assets. IDAs encourage savings by matching participant deposits.

IDAs are about more than receiving match money. They are about building skills that will help individuals and their families build self-sufficiency. Financial education is at the core of IDA training and is provided to every VIDA participant, regardless of the asset goal chosen.

Eligible asset classes include:

  1. Homeownership: Training is designed to help first-time homebuyers learn the basics about the home buying process. They will not only learn the basics, but will leave the training better prepared to successfully complete the home buying process.
  2. Home rehabilitation or repair: Training is designed to help individuals learn about the processes involved in making their homes accessible, habitable or able to be visited. Individuals will learn about aspects of home rehabilitation or repair, including finding a contractor, bidding and much more.
  3. Rental deposit and move-in fees
  4. Small business start-up or expansion: Training provides the skills needed to succeed as a small business owner and it will aid in developing a business plan. A business plan is an essential document that lenders require for receiving an approval of a business related loan.
  5. Post-secondary education or job training: Training focuses on accessing post-secondary education, academic planning and options after graduation. The education training will support the participant in achieving educational goals and understanding the career options available after finishing the educational program.
  6. Employment-related adaptive equipment, technology or specialized training
  7. Savings for Retirement 
  8. Vehicle Purchase or repair

How it works

Meet an IDA Provider

Someone at an organization in your community will help determine if you are eligible, and get you started.

$25 / per month

You will deposit as low as $25/month into your IDA account.

Up to 3 years

Save for up to three years in a custodial savings account.

Education and Coaching

Receive general financial training, in addition to support around the asset you are buying.

3:1 Match Savings

Once you are ready to purchase your asset, the funds from your account are matched 3:1.

Take the eligibility quiz

IDAs are supported by a variety of agencies, including the federal government, state government and private foundations. Participant savings accounts are hosted by local financial institutions that work with CASA of Oregon, the program administrator.

Lane Thompson

Don’t see your partners near you? Call or email.

Lane Thompson

VIDA/MCSP Program Manager

(503) 537-0319 Ext. 330

Frequently Asked Questions

Is this a ``scam`` that will cost me money?

No. The match funds are provided by foundations and federal funds that are available to people who want to buy an asset!

How much money can I deposit in my savings account?

You can deposit as much money as you want into your savings account, but there is limit to how much will be matched. You must complete a VIDA Application with an IDA Specialist to determine match amount.

Do I have to deposit the same amount each month?

No, you are not required to deposit the same amount each month but you must not deposit less than what you indicated in the Savings Plan Agreement. Lump sum deposits that are more than what your household’s earned income will not be matched unless otherwise specified.

I was able to save a lot of money for my tuition. I hope everyone knows this program to plan for their future.
John SmithCollege Student
I was able to save a lot of money for my tuition. I hope everyone knows this program to plan for their future.
John SmithCollege Student
I was able to save a lot of money for my tuition. I hope everyone knows this program to plan for their future.
AntonioCollege Student

About the Oregon IDA Initiative

The Oregon Individual Development Account Initiative invests in the personal and financial growth of individuals to build strong communities throughout Oregon. The Initiative was created in 1999 by the Oregon State Legislature to bring state agencies, private non-profit and tribal partners, and private contributors together to create opportunity in Oregon. Today, the Initiative is composed of the State of Oregon, under the leadership of Oregon Housing and Community Services Department and the Oregon Department of Revenue, and a host of private partners and contributors working together to help Oregonians achieve their dreams. The Initiative is managed by Neighborhood Partnerships.