Save $500 and we'll match it with $4,000
New Hampshire IDA provides matched savings accounts that helps state residents with limited incomes save money toward a goal and jump start their futures.
You may be eligible to open an IDA if you or someone in your household has some income from work and your household:
- is eligible for Temporary Assistance for Needy Families (TANF), or
- has earnings at or below double the federal poverty line or within the income limits for Earned Income Tax Credits (EITC), and
- has a net worth of no more than $10,000.
You start by connecting with one of the community partners in the IDA statewide network.
IDA savers must make deposits into their IDA savings account. For each dollar saved, up to $500, they receive $8 as a saving match. Someone who saves the maximum $500 will receive a $4,000 match; she will have a total of $4,500 to put toward her goal.
IDA savers must also complete eight hours of financial fitness training before making their first withdrawal.
Savers can start using their IDA funds to pay for their goals when they have met the training requirements and had their IDA open for at least six months.
If savers leave New Hampshire IDA for any reason, they keep any money they have deposited in their IDA savings accounts and have not used toward their goal. They will not receive any matching funds.
Ready to start? Find the program that fits your needs: