Individual Development Account (IDA) Programs

In 1999, First Nations Development Institute became an early funder of Native organizations interested in establishing Individual Development Accounts (IDAs) in Native communities. Similar to Individual Retirement Accounts, IDAs are designated savings accounts aimed at helping individuals build their financial asset base. An individual’s contributions to the accounts are “matched” by public or private sources to augment savings, provide incentives to save, and build financial assets within the community. IDA savings can typically be used for purchasing a home, education or training expenses, or capitalizing a small business.

Recently, IDA programs have been growing in Native and tribal communities. The Native IDA movement is still in need of information about how to develop successful IDA programs, including information about funding streams, organizational structure, program design, and promising practices. As part of our IDA initiative, FNDI is conducting research in these areas to develop a framework for understanding the opportunities and challenges facing Native IDA programs, and working toward identification and dissemination of strategies to ensure the vitality of this asset-building movement in Indian Country.

To learn more about our IDA work, contact Sarah Dewees, Director of Research, at 540-371-5615 or sdewees@firstnations.org.

In 2005, First Nations produced a work book designed to assist IDA programs in teaching basic concepts to their clients. To download a free .PDF copy of this workbook titled Building Native Communities: Saving for the Future – IDAs For Native Families, visit our publications store. The publication is available free of charge but you must provide us with information by following the prompts on the order screen. To order hard copies of the workbook, email narc@firstnations.org.