Matched Savings Program

The flagship program of the Asset Development department, this program offers clients the opportunity to open an IDA account and save towards their financial goals.

What is an IDA?

An IDA is a special savings account for working, income-qualified individuals and families to build household assets and financial security.

If you save in an IDA, your money will be matched $2 for every $1 you save. That means you’ll receive another two dollars for every dollar you save.

You can save to:

  • Buy a home for your family
  • Pay for your education costs (including tuition, books, fees, etc.)
  • Start or expand a small business

We offer free financial literacy and seminars linked to your savings goal.

What can I save for?

Your savings will be matched at a rate of $2 to $1 to invest in one of the following assets:

Home Ownership

  • Single-Family Home
  • Condominium
  • Townhouse

Small Business

  • Starting a small business or home-based business
  • Expand an existing small business
  • Working capital to purchase equipment, tools, or supplies, for business

Post-Secondary Education and Vocational

  • Business and Management
  • Culinary & Hospitality
  • Travel & Tourism
  • Education & Teaching
  • IT & Computer Science
  • Real Estate
  • Medical, Nursing, & Allied Health
  • Web Design & Development

What are the Requirements?

  • Have source of income from employment (part-time or full-time)
  • Have desire to save a portion of your income
  • Certain income requirements also apply

Contact us for more information.