Independent Development Account (IDA)

FSCHC is in the ninth year of operating an IDA program. 

             

There are four components of the IDA program: 

  1. Savings by the client (to save $1,000 as a goal) in an account established for the program;
  2. Case management including goal formulation, financial literacy training, home pre-purchase counseling and credit repair provided by FSCHC counselors;
  3. A "match money" incentive funded by MIDAP and other FSCHC partners in the amount of $3,000.00 to a client working to purchase a home and $2,000.00 to a client seeking an education or starting a business
  4. The actual purchase of the "productive asset" as the sucessful culmination of the program.