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Individual Development Accounts (IDA)

The IDA program assists low-moderate income Hoosiers attain their goals through matched-savings incentives and financial education. Operating behind the rationale that income alone is not enough for individuals to break trends of generational poverty, the IDA program focuses on asset building as a key component towards family and self-sufficiency. Participants in the IDA program are eligible to receive up to $4,500 in state match funds towards one of the eligible asset goals mentioned above. Participants also receive one-on-one counseling and 6+ hours of financial education covering topics such as budgeting, savings, credit, banking, taxes, and other money management strategies.

Qualified participants set savings goals and make regular savings deposits. Every dollar they save is matched, at a minimum for $3 for every $1 saved, to help them reach their goals so they can:

  • Purchase a primary residence located in Indiana
  • Expand a small business located in Indiana
  • Obtain education job training
  • Make essential repairs to owner-occupied housing
  • Purchase a vehicle for employment, education, or job training purposes

Program Applications, Policies, and Forms

IDA022

IHCDA is hosting an IDA Program webinar Wednesday August 24th from 11:00am-12:30pm Eastern. This will be recorded and later posted to this website. No registration required.
Click here to join the webinar.

IDA021

IDA020

IDA019

IDA018

Reference Materials

IDA Guidance

IDA Required Documents

Other IDA Resources

2022 IDA Tax Credits

2021 IDA Tax Credits

2020 IDA Tax Credits

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