Matched savings for a home, car, business or education

Individual Development Accounts (IDAs) are special, matched savings accounts that help people with limited incomes save to buy a home or car, to start or expand a business, or to pay for college or technical school.

The New Hampshire Community Loan Fund provides IDAs through a statewide network of community partner organizations.

Here’s how it works: New Hampshire IDA Program participants deposit between $25 and $200 each month into their IDA savings accounts – up to a maximum $2,000 – and the IDA program contributes three times that amount. Someone who has saved the maximum will end up with a total of $8,000 – their $2,000 in personal savings plus $6,000 in match.

You must meet certain requirements to participate in the IDA program. You must earn some income, but have limited earnings and net worth, and be willing to attend financial trainings.

The New Hampshire IDA Program is funded in partnership with Citizens Bank, the New Hampshire Community Development Finance Authority and the federal Assets for Independence Program.