Individual Development Accounts (IDAs) are special matched savings accounts that help people with modest incomes save to buy a home or car, to pay for education or professional training, or to make home repairs.
Since the New Hampshire IDA Program started in 2001:
- More than 1,100 participants have completed at least six hours of financial education or asset-related training.
- Participants have saved more than $1.6 million.
- Participants have invested more than $800,000 of their personal savings in homeownership, small-business development (no longer available), education, car purchase or home repair, leveraging more than $43 million in related loans and other financial resources.
- Participants who left the program without spending any of their IDA funds for an approved goal nevertheless saved an average of $900.
- IDAs have brought opportunity to some of New Hampshire’s most financially vulnerable households. Approximately 80% of participants earn less than half of the state’s median income.
- Participants have come from all 10 New Hampshire counties.
- The vast majority of participants who used IDA funds to buy homes remain in them.
Read more about how the IDA program makes a difference.
Questions about the New Hampshire IDA Program are always welcome. If the information you need is not on our Web site, please contact the IDA staff.