Valley Individual Development Account Program
Mid-Columbia Housing Authority partners with CASA of Oregon to offer the VIDA program. VIDA is a matched savings program that enables families to save and build assets by:
- Matching participant savings with $3 for every $1 saved.
- Providing no-cost financial education and support specific to the asset goal, such as a home.
Assets are resources with value that can be tangible, like a home, or intangible, like a college degree. Assets are the building blocks to financial stability.
What is an IDA?
An Individual Development Account (IDA) is a matched savings account that enables families with limited financial resources to save and build assets. IDA’s encourage savings by matching participant deposits, which then are invested in one of the following assets:
- Home ownership
- Small business start-up or expansion
- Post-secondary education or job training
IDAs are about more than receiving match money They are about building skills that will help individuals and their families move up the ladder of self-sufficiency. These skills are obtained through the completion of training focused on attaining and managing assets. Training focuses on the specifics of each asset and provide a forum for participants to develop their skills as homeowners, students, entrepreneurs, or employees.