Delawareans Save IDA Program

The Delawareans Save Individual Development Accounts (IDA) program is a special savings program that assists with building assets and increasing wealth. You will receive a dollar-fifty for each dollar saved for specific purposes.

The maximum that you may save and get matched is $1,500 per person or $3,000 per household.  Each dollar you save, according to program guidelines, will be matched with a dollar and fifty cents.  That means, including your savings and match, you may obtain up to $3,750 per individual or $7,500 per household!

Savings Goals:

Homeownership: for first-time homeownership to pay for the down payment and closing costs of a home that will be your primary residence. Homeownership counseling is required.

Education & Training: You may use your savings for post-secondary education or vocational training school. Your IDA can be used to pay for tuition, fees, books, supplies and equipment that are required for this education.

Small Business: You can open a business or grow the business that you have. IDA funds can be used for business capitalization. Small business assistance is provided to help you meet the goals. Microloans are available with special opportunities for IDA investors.

Since its start in 2002, 51 families have achieved their match and invested in their asset and 53 are still actively saving.

Additional information on this program can also be obtained by consulting the Delawareans Save official website: www.delawareanssave.com.

Eligibility:

To find out about the eligibility requirements for the IDA program, please click here.

Contact Information:

Contact Person:	Burnadette Kornegay
	Director of Asset Building Programs
Phone:	(302) 655- 0803 ext 12
Email:	bkornegay@nehemiahgateway.org

 

© Nehemiah Gateway Community Development Corporation 2007