What is required of IDA participants?
IDA participants are asked to commit to: • Make monthly savings deposits of at least $80 and up to $150 for homeownership; and $50 to $120 for small business or education IDAs. Occasional missed deposits are allowed under the program policies. • Use the IDA to purchase a home, start/expand a small business, or spend on post-secondary and vocational education for themselves or their dependents. • Save in the program for at least 10 consecutive months up to a maximum of 36 months depending on how much they save every month.
