Individual Development Accounts
The IDA program is a match savings program that assists low-income tribal families to purchase their first home. The match ratio is a 2:1. Tribal members who apply for this program must meet program requirements.
- Annual household income within eligible range
- Annual income at least $25,000
- Residents of the 7 County Service Area (Upper Peninsula)
- Save at least $75.00 per month while in program.
- Attend a series of personal finance and money management workshops.
- Remain in program for at least two years.
- Willing to participate in on-going peer support groups.
- Savings and match may only be used toward the purchase of a home.