Indvidual Development Account Program
Supporting You
We Will Match You!
Our Individual Development Account (IDA) program helps you build your account(s) effectively, offering you free money through matched savings. For example, if you need assistance with a down payment on a house, tuition, training, or business startup/expansion, we match your savings. Furthermore, the IDA program specifically provides free money through matched savings for people with limited incomes. As a result, for every dollar you save, we will match it, up to $1,000. Discover how we help you build your individual development accounts in three different ways:
Closing costs 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).
Apply Today
Find Out if you Qualify
Financial Empowerment in Action
A Program Designed to Support You
Northwest Michigan Community Action Agency dedicates their services to helping those in need within their Community Action Agency (CAA) region. Here’s how we’ve helped people and changed lives in 2022. Furthermore, we are proud we were able to help 12 community households become new homeowners and help give back $6,745,471 in credits and refunds through our VITA Free Tax preparation.
Purchasing a Home
“My fiancé and I have been working together to build our family. To unite our family a home was needed. Our boys are so excited with this accomplishment. They get along so well and love Sean, my fiancé. The IDA program has been the staple to our goal. Without it our dream would still be a dream.”
Starting a Business
“Thanks to NMCAA and the IDA program, now both a small business and homeownership are on their way to
becoming a reality for me – and prior to my participation in this program, I never dreamed either one would be
possible for me!”
NMCAA Support in 2022
Community Action
Eligibility
To be eligible you must:
- Be employed.
- Agree to complete Money Management workshops and asset-specific training.
- Save a minimum of $20 per month from your earned income.
- Meet regularly with a Budget & Housing Coach.
- Agree to meet other program requirements. Minimum of 6 months in the program.
- Meet income guidelines for 200% or less of the federal poverty level.
| Family Size | Maximum Income |
| 1 | $29,160 |
| 2 | $39,440 |
| 3 | $49,720 |
| 4 | $60,000 |
| 5 | $70,280 |
| 6 | $80,560 |
| 7 | $90,840 |
| 8 | $101,120 |
Supporting You
We Will Match You!
Our Individual Development Account (IDA) program helps you build your account(s) effectively, offering you free money through matched savings. For example, if you need assistance with a down payment on a house, tuition, training, or business startup/expansion, we match your savings. Furthermore, the IDA program specifically provides free money through matched savings for people with limited incomes. As a result, for every dollar you save, we will match it, up to $1,000. Discover how we help you build your individual development accounts in three different ways:
Closing costs 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).
Apply Today
Find Out if you Qualify
Financial Empowerment in Action
A Program Designed to Support You
Northwest Michigan Community Action Agency dedicates their services to helping those in need within their Community Action Agency (CAA) region. Here’s how we’ve helped people and changed lives in 2022. Furthermore, we are proud we were able to help 12 community households become new homeowners and help give back $6,745,471 in credits and refunds through our VITA Free Tax preparation.
Purchasing a Home
“My fiancé and I have been working together to build our family. To unite our family a home was needed. Our boys are so excited with this accomplishment. They get along so well and love Sean, my fiancé. The IDA program has been the staple to our goal. Without it our dream would still be a dream.”
Starting a Business
“Thanks to NMCAA and the IDA program, now both a small business and homeownership are on their way to
becoming a reality for me – and prior to my participation in this program, I never dreamed either one would be
possible for me!”
NMCAA Support in 2022
Community Action
Eligibility
To be eligible you must:
- Be employed.
- Agree to complete Money Management workshops and asset-specific training.
- Save a minimum of $20 per month from your earned income.
- Meet regularly with a Budget & Housing coach.
- Agree to meet other program requirements. Minimum of 6 months in the program.
- Meet income guidelines for 200% or less of the federal poverty level.
| Family Size | Maximum Income |
| 1 | $31,300 |
| 2 | $42,300 |
| 3 | $53,300 |
| 4 | $64,300 |
| 5 | $75,300 |
| 6 | $86,300 |
| 7 | $97,300 |
| 8 | $108,300 |
Homeownership and Financial Center
NMCAA is committed to making financial education and home counseling available for low to moderate income households to achieve financial self-sufficiency.
Homeownership and Financial Center
NMCAA is committed to making financial education and home counseling available for low to moderate income households to achieve financial self-sufficiency.