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Individual Development Accounts (IDAs)

Get a 3-to-1 match on your personal savings towards homeownership, higher education, or small business development! Polk CDC is one of the 8 founding members of the Valley Individual Development Account (VIDA) collaborative, which has grown to include 42 community-based organizations throughout the state of Oregon. The VIDA program—administered through CASA of Oregon—matches $3 for every $1 of participant savings towards:

  • Homeownership
  • Post-Secondary Education
  • Workforce Training
  • Small Business Start-Up or Expansion
  • Home Repair or Rehabilitation
  • Adaptive Equipment or Technology to Obtain or Maintain Employment

250-man-holding-hands.jpgParticipants can receive up to $9000 in match funds (a total of up to $12,000 in match funds and savings) and can remain in the program for up to three years.

In order to qualify for the VIDA program you must:

  • Be 12 years or older
  • Be an Oregon resident
  • Have a net worth of less than $20,000 (excluding a primary home and one vehicle)
  • Earn less than 80% of the Area Median Income (AMI) for your county, based on your household size (see the income limits for Polk County here)
  • Be able to hold a savings account

In order to graduate from the program you must:

  • Work with our IDA Specialist to make a financial plan and budget
  • Make regular monthly deposits into your IDA account
  • Attend a 10-hour Financial Education Class
  • Attend trainings specific to your asset goal (e.g.: The ABC’s of Homebuying for homeownership or the MERIT 30-hour training session for small business)

Individual Development Accounts (IDAs) alleviate poverty by helping low and moderate income individuals build assets that help stabilize their personal finances and provide a foundation for long-term planning and wealth-building. To find out more or to apply, please contact our Housing Program Manager and IDA Specialist Celina Davila at 503-831-3173 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it . 

The IDA Initiative is supported by funding from the Oregon IDA Tax Credit. The Oregon IDA Tax Credit allows you to support programs like ours and get a 75% credit back on your state tax return. For more information, go to http://ida.neighborhoodpartnerships.org/.