Individual Development Accounts (IDA)

What is VIDA?

The Valley Individual Development Account (VIDA) program provides training and support to people as they save for ma jor life and financial goals. VIDA is a partnership between CASA of Oregon and member agencies.

What is an Individual Development Account?

An IDA is a matched savings account available to individuals with limited resources and that can be used for specific assets.
It is an asset building tool:
“An asset is anything of value that can be converted into cash. Assets are owned by individuals, businesses and governments.”
IDAs require regular monthly deposits, financial education, and training for your asset.
IDAs are case managed by IDA specialists.

Why save with an IDA?

Get your money matched $3 to every $1 deposited Create the habit of saving
Reach goals set personally
Build financial skills
Further career and household stability
Access other assets

What can I save for with an IDA?

Post-secondary Education

How much can I save with an IDA?

You can save up to $1,000 per year
Savings period can be from 6 to 36 months
The match is $3 to every $1 saved
The minimum monthly deposit is $25 ($300 /year)
TIP: If you save the maximum of $3,000 over 3 years, that’s $9,000 in matching funds!

Classes

Hours: 1PM-4PM

Tuesdays and Thursdays

Services (English & Spanish) include: General Assistance, Job Information, Career Search & Training Resources, Unemployment Insurance Information and Support (for filing new claims only). For questions related to the Clackamas Response Line, contact Amy Black (amy.black@clackamasworkforce.org)

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