Savings Plus
This community partnership administers the Colorado Individual Development Account program. An Individual Development Account (IDA) is a special savings account in which low-income participants save a designated minimum amount of their earned income each month towards the purchase of a first home, post-secondary education or capitalizing a small business. After meeting their savings goal, completing educational requirements and meeting with a specialist for one-on-one counseling, the participant’s savings are matched with funds from a variety of public and private sources. Match rates on participant savings range from 1:1 to 4:1.

IDAs are currently available only in the Denver Metro Area, but the Savings Plus program structure is designed to expand throughout Colorado. Individual Development Accounts (IDAs) allow low-income individuals to acquire assets for specific goals.