Individual Development Account (IDA) (Colorado Springs) - REACH Pikes Peak
Colorado Springs - REACH Pikes Peak
Data Provided By
Pikes Peak United Way - PPUW
Description of Service
The Individual Development Account (IDA) is a matched saving program for low income people who are employed and have a household income at or below 200% of the federal poverty level. The IDA program addresses issues of self-sufficiency and poverty elimination through the innovative approach of asset acquisition.
Participants who save up to $1,000 will be matched with $4,000, for a total of $5,000. They can use these funds for post-secondary education, to start or expand a small business, or to purchase a first home. REACH Pikes Peak’s Individual Development Account program is offered at our Colorado Springs office. This is an enrollment program, which means that clients are seen by appointment only, so please call ahead!