The Fastest Way to Save For Your Dreams

Get up to three dollars for every dollar you save with Oregon IDAs

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Allison Murphy

“The IDA has given my business a leg up, where no other feasible option was available. I will be eternally grateful.”

Allison Murphy Owner Utilitu Sewing & Design, Bend Oregon, IDA Graduate 2011
William Sherfield

“This [IDA] allows me to go and work and be independent. My brother just bought a business and is going to hire me to do his books so this is going to help me and my brother, isn’t that great!”

William Sherfield Canyonville, Oregon IDA Graduate, 2010

It's not too good to be true. Here's how it works.

  • 1

    Figure out if you qualify

    Do you dream about purchasing a home, going to school or getting job training, starting or expanding a small business, repairing your home, or buying equipment to support employment?

Your dreams may be in reach if:

  • You are an Oregon resident
  • You are at least 12 years old
  • You have a household income below the IDA Income Limits by county and family size (see below for chart)
  • You have a Net Worth of less than $20,000
  • You can save regularly (plan on at least $25 a month for a minimum of 6 months)
  • You are willing to complete financial education classes and gain skills

  • 2

    Apply at a local nonprofit organization

    Once you've determined what goal you want to save for, contact a local nonprofit partner of the Oregon IDA Initiative and apply in their office.

  • 3

    Start saving for your dreams and secure your matched savings

    Sign a savings plan agreement, set up a bank account, and make monthly deposits.

Here are some frequently asked questions from potential savers like you.

Do I have to deposit the same amount each month? (show) +

You are expected to deposit what you set as your goal in your Savings Plan Agreement.  This may not always be the same amount each month.  If you deposit a large lump sum, from a tax return for example, it might not always be matched.   IDA provider rules vary about the minimum deposit for each month, so you should check with your provider.    However, you should plan to deposit at least $25 each month for at least six months.

How much money can I deposit in my savings account? (show) +

You can deposit as much money as you want into your savings account.  However, the most match you can receive in a twelve month period is $3,000. If you save $1,000 and receive the usual match rate, you’ll have $4,000 to put towards your goal!

Will I have to pay taxes on my savings account? (show) +

IDAs allow you to accumulate savings tax-free.  The state of Oregon allows a deduction on your state tax return for deposits to your IDA through a designated non-profit IDA provider.  Your IDA provider can refer you to someone to help you prepare your taxes.  Please read IDA tax information(link) available through the Oregon Department of Revenue.

How does the match work? (show) +

Once the savings goal is reached and all parts of the savings plan are completed, every dollar saved by a participant is matched by the Initiative, typically with three dollars for every one dollar saved.  IDA participants can then buy a home, get education or training, start or develop a small business, do certain home repairs, or buy equipment to support employment.

Why doesn't the match money show up on my savings account statement? (show) +

The match money does not go directly into your savings account.  It is held in a separate account.  The match money is set aside for you and is available for you once you’ve built up your skills, developed your plan, and met your savings goal.  When you make a purchase, match funds will be paid directly to the vendor.

  • 4

    Gain a valuable financial education and map your future

    Once enrolled, you can start build life-long financial skills and gain knowledge about how to reach your goals. You'll also complete your business or career/education plan.

  • 5

    Achieve your goal

    Use your savings and IDA match to make purchases like tuition, a down payment or equipment for your business.


Contact Stacey Ziegenhagel,, 503.226.3001 x119

Managed by Neighborhood Partnerships, the 28-year-old, 501(c)(3) nonprofit partner of the State of Oregon.