Individual Development Account

The Michigan Saves IDA Program is a matched savings program for people who want to build financial assets. We will work with the customer to provide the extra dollars and tools to help someone build a bright future.  Every $1 you save (up to $1000) will be matched with $2 or $3 toward one of these eligible uses:

• First-time Homebuyer down payment assistance
• Tuition for an accredited school
• Small business start-up or expansion

To be eligible for the Program, you must:

• Agree to save $20 per month from your earned income
• Agree to complete Financial Capability workshops and asset specific training
• Agree to meet other IDA Program requirements as described by NMCAA's IDA Coaches
• Show proof of your earned income that meets the income eligibility guidelines (i.e., a family of 4 can have an annual household income of up to $51,500)

For more information on the IDA Program, call (231) 947-3780. To fill out a potential IDA application, click here for IDA Application. Once the potential application is filled out completely, it can be delivered, mailed, faxed, or scanned and emailed to cbanks@nmcaa.net.