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Individual Development Accounts

Community Action Partnership of North Dakota : What We Do : Statewide  Programs : Individual Development Accounts (IDAs) : Overview : How Does an  IDA Work?

Individual Development Account (IDA): Are you looking for a way to help pay for college, buy a house, or start a business? Community Action Partnership Minot Region's Individual Development Account (IDA), is a saving program for low to moderate income people. Our IDA program will provide the knowledge to plan your financial future and assist you to meet your goals for education, small business or home ownership. For small businesses and higher education, clients make monthly deposits from earned income to save $500, and Community Action will match those funds with $4,000, for a total of $4,500 to go towards entrepreneurial and education costs. For home ownership, clients make monthly deposits from earned income to save $1,000, and Community Action will match those funds with $4,000, for a total of $5,000 to go towards closing or home purchase costs.

 The Individual Development Account is funded by the Roger and Delores Odell Trust Fund.

 

Contact Dominica (Nica) Granada at nica@capminotregion.org or call at (701)-839-7221 for more information and to see if you qualify.