Individual Development Accounts (IDAs) are a savings program that allows individuals with modest resources to save for long-term assets like homes, education, or small business investments.  When a participant deposits money into an IDA account, Community Vision matches that deposit at either a 3:1 or a 5:1 rate.

Community Vision began offering individual development accounts in 2010 for homeownership, micro-enterprise, adaptive technology and education.  We have successfully enrolled eleven participants in the program, each of whom have either successfully completed the program or are actively saving.  We are now actively reaching out to other organizations to enroll them in the program because we have successfully served everyone within our supported living program that is interested in participating.  Renewed funding in Community Vision’s IDA program will allow us to serve a segment of the population that is often overlooked and underserved in the financial services industry.

The curricula and tools we use reflect the range of each individual’s cognitive, intellectual and physical abilities. For instance, while one-on-one coaching is the most effective learning style for some participants, others work with partner groups, like the Portland Housing Center for homebuyer education, Innovative Changes for general financial literacy, Mt. Hood Community College for small business management.  In all cases, Community Vision pays for the financial literacy, develops the education plan in concert with the participant, supports their progress to get the education, and tracks their completion along the way.  In 2011, Community Vision created a financial literacy resource guide to share with participants and staff as they selected their curriculum.