Most Americans working in low-wage jobs do not have access to the investment opportunities that middle- and upper-class people take for granted. Homeownership and the resulting equity generated by this investment, and the savings offered by the mortgage interest tax deduction, is often out of reach due to high down payments and strict credit requirements. A college education or job training that will lead to higher wages and greater mobility in the workforce is priced out of reach of the working poor — despite the recent attempts to make it more affordable. Small business start-up, a traditional path to economic prosperity, requires both capital and capacity to for the owner to succeed. Asset development programs can bridge these gaps.

Individual Development Accounts (IDAs) are one tool for building assets. IDAs are restricted savings accounts used solely for the purpose of investing in qualified assets, such as a home, post-secondary education, or a small business. IDA programs match the IDA savings of low-income account holders from earned income. We also provide intensive financial, economic, and asset-specific education. It is the financial investment that gives participants an opportunity. The education is the key to long term skills that enhance their growth and stability in a fast-paced economy.