Individual Development Account Program


Are you interested in saving money towards a goal but don’t know how to get started? The IDA program provides residents of Providence the opportunity to create a personal plan to reach a savings goal. When the goal is reached CAPP will match IDA participants dollar to dollar, up to $3,000! 

For more information, please contact Rose Phildor at 401-273-2000 x 208 or email rphildor@cappri.org.

 

Apply now if you dare to dream and are ready to save! 

 

Who is eligible to participate?

  • A Providence Resident, 18 years of age or older
  • US Citizen or Legal Permanent Resident
  • Must have earned income
  • Meet household income guidelines
  • Approved Individuals must be ready to open an IDA savings account with minimum deposit of $100 with CAPP’s approved financial institution

Why should I consider participating?

CAPP is currently the only agency in Providence offering an IDA program that provides up to $3000 dollar to dollar match in achievement funds!

  • Provides a matched savings account paired with financial empowerment education.
  • IDA Programs are a proven model to break the cycle of poverty.
  • You can kick-start savings towards future goals after the asset goal is met.

The Individual Development Account (IDA) matching fund program provides eligible Providence residents the opportunity to create an individual savings plan for their personal asset goal of either first-time homeownership, post-secondary education, or growing a small business. This program encourages residents to achieve their goals and become financially stable. 

          

Through the IDA program, Moneca, Silvia, and Wendy participated in HUD approved
first-time home buyer education programs, education for landlords, credit building, and
financial literacy programs. Each individual was able to meet their savings goals and have the funds matched.

~Click here to apply!~