Individual Development Accounts

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The IDA program is coordinated by Community Vision in partnership with the VIDA collaborative at CASA of Oregon. An Individual Development Account helps magnify or grow your saving efforts through matching funds to help individuals achieve major financial goals.

How it works

Community Vision matches dollars at a 3:1 ratio, so for every $25 dollars saved, an individual will accumulate $100 dollars in total savings. Savings can made for 6-32 months, with a maximum cap of $8,000, totaling $10,688 with savers contribution. Savings can be used for:

  • Home ownership
  • Small business startup or expansion
  • Post-secondary education
  • Home repair and rehabilitation
  • Workforce training
  • Need-based adaptive equipment

The program is structured to be safe with all federal and state benefit programs. Savings will not count towards resource limits or reduce other benefit amounts.

Eligibility

To qualify you must meet the following requirements:

  • Be 12 years or older
  • Earn less than 80% area median income for your county according to family size
  • Have a net worth of less than $20,000
  • Attend financial planning sessions with Community Vision to create your personalized savings plan

Contact

Allison Barber
Administrative Coordinator
Office: 503-292-4964 ext. 116,
cell: 503-858-0678
afalleur@cvision.org

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