Stands for Individual Development Account, IDAs are a matched savings account available to help income-eligible participant achieve goals such as starting a business, higher education, and home ownership. IDAs are sponsored by community development, faith-based, and other non-profit organizations and generally provide financial education training as well as matched savings.
Individual Development Account. Savings accounts in which low income families deposit money that is then matched (often in a ratio greater than one to one) by a nonprofit organization or financial institution. Often depositors must save towards a financial goal such as home ownership or education.
Improvement and Development Agency
See "Individual Development Account."
Individual Development Account. Similar to 401(k)s, IDAs help low-income families build the financial assets—homes, businesses, education—that they need to achieve the American Dream. Small investments in matched savings and personal finance education can yield big returns for families, financial institutions, communities and the nation.
Internationl Development Association
Industrial Development Authority
Infocomm Development Authority
Individual Development Account. An IDA is a matched savings account. When an account is matched it means that another organization, such as a foundation, corporation, or government entity, agrees to add money to your account.
Individual Development Account. Exempt resource allowed for TANF/SFA recipients. Savings account that is held in trust by a community based organization which has agreed to provide some level of matching funds. Resource is intended for: post-secondary education, first home purchase, or business capitalization. See: Resources
Individual Development Account. Refer to IDA for definition. See: Resources
International Development Association
Individual Development Account. A special type of savings program organized by nonprofit organizations. Borrowers keep their money in a bank, and the amount of money that is put in the IDA savings account is matched by the nonprofit organization. These accounts are usually reserved for buying a home, paying for education job training expenses, starting a small business, or saving for retirement.
International Development Authority
Investment Development Agency
Individual development account. A type of savings account, offered in some communities, for people whose income is below a certain level.