What is an IDA?
What can IDAs be used for?
Am I eligible?
How do I get an IDA?
What happens once I’m enrolled? How does it work?
How might my IDA affect my eligibility for other Oregon resources?
How do I decide which IDA Provider is best for me?
Who are we? Who runs the IDA Initiative?  
For current IDA Savers: Do You Have Questions about IDAs and Oregon Taxes?

What is an IDA?

An Individual Development Account (IDA) is a matched savings account, where the money you save is multiplied by IDA match money to help you achieve a goal you have set. IDAs are offered by many different community organizations, housing authorities, schools and colleges across Oregon.

What can IDAs be used for?

Oregonians who qualify can save for goals including homeownership or home repair, small business start-up or expansion, post-secondary education or job training, employment-related adaptive equipment, vehicle purchase, and more. Different organizations may not support all these savings goals. For a list of IDA Providers by county and savings goal, use the search tool.

Am I eligible? (Questions about eligibility)

Each IDA Provider can help you know for sure if you qualify for their program. You can also go to the “Am I Eligible?” page to see the basic requirements.

Some IDA Providers may not be taking new applications at this time, while others might have a waitlist you could get on. 

How do I get an IDA?

You’ll need to get in contact directly with an IDA Provider near you to apply. You can use the search tool to find the location and contract information for different IDA Providers. 

What happens once I’m enrolled? How does it work?

Once you are enrolled, you will work with a staff member to create a savings plan, take financial education classes, open a savings account, and start saving for your goal. The amount you decide to save will depend on your goal, your budget, and your timeline. Your IDA Provider will also set aside a specific amount of matching money. You then use the matching money to increase the power of your own savings – usually $5 for every $1 you save! To be eligible for matching money, you must first be saving in an IDA for at least three months. The total amount of matching money that you can request while in the program can vary based on how long you have been in the program and how much you have saved.

For example: Let’s say you have an IDA with a 5:1 match rate ($5 for every $1 you save) and your savings goal is $1,200. If you are able to save $75 every month, you will reach your savings goal in 16 months, and will be eligible for $6,000 in match, for a combined $7,200 to put toward your goal!

How might my IDA affect my eligibility for other Oregon resources?

Money saved in an IDA savings account does not count as a resource for Oregon Self-Sufficiency program eligibility, including TANF and SNAP. While IDA match funds are not considered income, all IDA savers should consider the impact based on their circumstances related to receiving IDA match funds. It is possible that your household’s growth in assets as a result of completing an IDA and receiving match funds may impact future eligibility for benefits that have resource limits. 

How do I decide which IDA Provider is best for me?

Start by identifying IDA Providers near you that offer the savings goal you have in mind, using the search tool. If you find more than one IDA Provider that fits your goals, your next step would be to reach out and talk to someone at each organization. They will be able to give you more information about their program and explain the steps to apply.

Who are we? Who runs the IDA Initiative? 

The coalition of providers that make up the IDA Initiative work alongside savers to address the needs and visions coming from communities most impacted by an inequitable economy. IDA Providers partner with savers by offering community-based support, information about financial systems, and matching money.

The Initiative is part of Oregon’s Housing and Community Services Department, and is managed by Neighborhood Partnerships. IDAs are funded through an Oregon State Tax Credit, with a limited amount available each year.

Still have questions?

We encourage you to find a provider in your area and to reach out to them directly.  Otherwise, you can contact the Oregon IDA Initiative office at ida@neighborhoodpartnerships.org.