Individual Development Accounts

An Individual Development Account (IDA) is a matched savings account designed to help participants achieve their long-term financial goals - buying a home, starting a business, or enrolling in certified education program.

Under the IDA program, the participant opens a savings account called an IDA.  The participant must then deposit at least $10.00 per month into the IDA account.  Depending on the program the participant is enrolled in, for every $1.00 deposited by the participant up to $2,000 per year, CAASTLC will match it with $1.00 or $2.00 for the next two (2) years. The participant can use the savings, plus the match money received, to acquire the asset they are saving for.  Participants must be in the program for at least 6 months and complete class requirements before being eligible for matching funds.  If you are interested, please call (314) 863-0015, ext. #429.

Eligibility Requirements - Household income may not exceed 200% of the federal poverty guidelines.  Please go to our "Income Guidelines" page for a complete listing of income guidelines.