Individual Development Account
Need help saving for a house down payment, tuition, training, or business? We will match you!
Our IDA Program provides matched savings for people with limited incomes to build financial assets. For every $1 saved (up to $1,000), we will match you towards:
- Closing cost or down payment on first home ($3 to $1)
- Tuition for college or vocational training ($2 to $1)
- Small business start up or expansion ($2 to $1)
Get Started!
Download and fill out the application below. It can be delivered, mailed, faxed, or scanned and emailed to fmsintake@nmcaa.net. By submitting the IDA Application, you are added to the wait list for the program you are interested in:
Download IDA Application
Talk to us for more information:
231.947.3780 (call) or 231.714.4578 (text)
fmsintake@nmcaa.net
Eligibility
To be eligible you must:
- Be employed
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Agree to complete money management workshops and asset-specific training
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Save a minimum of $20 per month from your earned income
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Meet regularly with a budget/housing coach
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Agree to meet other program requirements
- Meet income guidelines for 200% or less of the federal poverty level:
| Family Size | Maximum Income |
| 1 | $25,520 |
| 2 | $34,480 |
| 3 | $43,440 |
| 4 | $52,400 |
| 5 | $61,360 |
| 6 | $70,320 |
| 7 | $79,280 |
| 8 | $88,240 |
Register for upcoming workshops or meet with a Budget & Housing Coach by clicking below.
This page last updated on 3/30/2022.
