Individual Development Account

The Michigan Saves IDA Program is a matched savings program for people who want to build financial assets. 

Time is running out! Don’t miss this great opportunity! NMCAA’s matched savings program has a less than 12 accounts available. For every $1 you save (up to $1000), you will receive a $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:

• Save a minimum of $20 per month from your earned income (actually you want to save more to realize full value!) You may want to deposit your Economic Impact Payment or tax refund.
• Complete NMCAA’s money management workshops and asset specific training
• Meet regularly with a Budget/Housing Coach
• 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)

Withdrawals must be made by December 2020! Don’t miss out!

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 apopa@nmcaa.net.