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"I can't wait to get the keys & do the happy dance in my new home! Not so long ago I was homeless. Words cannot express the gratitude I have for where I am today."
~ IDA Program Graduate, on closing day

Individual Development Accounts

Individual Development Accounts (IDAs) are an opportunity for people to earn a match for savings toward the purchase of an asset such as their first home, post-secondary education, a vehicle to maintain or attain gainful employment, or to start a business.

An IDA works by providing a 3 to 1 match for your savings up to certain limits. NEDCO obtains state and federal funds to make the IDA program possible. The match money is a grant to you; it is not a loan and does not need to be paid back.

You must meet the following general Eligibility Requirements to participate in the program:

1. Be an Oregon Resident
2. Your household's adjusted gross income, according to household size, must be at or below 80% of the median for your county. Check here for details
3. Your household's net worth must be at or below $20,000. Please see the attached IDA Net Worth Calculation Worksheet.

As an IDA participant, you will have several responsibilities:

* Complete a total of 16 hours of education - 8 hours of financial education (Financial Foundations) and 8 hours of asset-specific training. You must complete Financial Foundations prior to enrollment.

* Demonstrate your ability to save by saving at least $25 in your own savings account for two consecutive months before applying for the IDA program (you can do this while you are completing the Financial Foundations course).

* Work with a NEDCO Financial Counselor to create a budget based on 30 days of tracked expenses, reflecting your ability to save on a monthly basis to reach your savings goal.

* Establish a savings goal and timeline for completion including making regular monthly deposits toward your goal in a joint/custodial account with NEDCO.

*We offer a discount when registering for required classes for a Homeownership IDA, as a combo. See below.*

1. The first step is to enroll in our Financial Foundations Education Series (required 8 hours of financial education):
Contact us or enroll directly:

Lane County

Financial Foundations $40

Mid-Willamette Valley

Financial Foundations $40
Financial Foundations en espaņol $40

Clackamas County

Not currently offered - but check back periodically!

2. In addition to Financial Foundations, you will need to also enroll in one of the following asset specific classes:

a. Homeownership is your goal? Enroll in our Threshold series:

Lane County
Threshold $50
Financial Foundations and Threshold Combo Package ($75 - save $15!)

Mid-Willamette Valley
Threshold $50
Threshold en español $50
Financial Foundations and Threshold Combo Package ($75 - save $15!)

Or contact our staff:
541.345.7106 (Lane County), 503.779.2680 (MWV)or email

b. Small business ownership is your goal? Enroll in our HATCH program:

Lane County
Business 101 $295 (Scholarships are available)

Or contact our staff:
541.345.7106 or

Coming soon: Asset specific education for Assistive Technology (transportation) and Post-Secondary Eduation IDA's!

If you would like more information on the IDA program, contact us at your local office.

If you would like more information on the Oregon IDA Initiative, visit the state-wide program website today!


Homeownership Center Photo
HUD Approved Housing Counseling Agency
Clackamas County office: 421 High St Suite 110, Oregon City, OR 97045 • Phone: 503-655-8974
Mid-Willamette Valley office: 2700 Market St NE Suite 110, Salem, OR 97301 • Phone: 503-779-2680
Lane County office: 212 Main Street, Springfield, OR 97477 • Phone: 541-345-7106

Equal Housing Opportunity