Individual Development Account Program (IDA)
The IDA program empowers individuals and families who qualify to develop and maintain solid financial foundations by helping them save for the purchase of a high-return asset. This asset could include buying a home, making repairs to the home you currently own, continuing education through college or technical training, and starting or growing a small business.
Participants learn to overcome obstacles and master savings in a convenient online class that fits any schedule. Upon completion of the class, clients are eligible to open a savings account and receive a 2:1 match for every dollar they save.
Qualifying households save for a minimum of six months towards the purchase of their asset.
The program helps participants:
Gain tools for managing finances
Learn responsible savings behavior
Participate in life skills workshops
Receive 2:1 matched savings
Purchase a high-return asset
Become financially self-sufficient
For more information, please contact Rose Smyres at 620-662-8370 ext. 710 or email roses@interfaithks.org.
"I am so thankful for Interfaith Housing helping me to become a self employed nail technician. To be able to make my own schedule to be home with my son more is a great blessing." - Tami
“This program helped me get through my social work degree, and allowed me to have minimal debt. Once I graduate, I can pay it forward by serving the community.” - Connor
“We had been taught to avoid debt at all costs, so we didn’t have any debt going into the program. We learned to leverage debt in order to build a credit history in preparation for our purchase.” - Kelsi