Individual Development Accounts
Save today for your life-long assets
An Individual Development Account (IDA) is designed to help you save money to weather financial hardship, purchase assets, and build your financial capacity.
Our matched saving accounts assist individuals with a modest income to save toward the purchase of a life-long asset. For example, for every dollar you save, you earn at least $3 that can be used toward home ownership, furthering personal education, or to start/expand your small business.
Step 1: Are you eligible?
You are eligible if you are:
- An Indiana resident
- Employed
- Below 200% of the Federal Poverty Guidelines based on household size or receive Temporary Assistance for Needy Families (TANF)
- Able to save a minimum of $25 each month
- Meet the minimum screening requirement
Step 2: Complete financial empowerment training.
Here are your main options, please pick one:
- FDIC Money Smart
Self-paced, computer-based workshop including 11 modules of financial topics. No cost. Register here. Note: You will earn certificates of completion for each module and turn all 11 of them in with your IDA application. - Pathways to Your Financial Destination
Instructor-facilitated introductory workshop covering primary financial topics in person. Eight hours. Cost $25. Register here via Eventbrite or by submitting attached registration form with payment (check or money order) to John Boner Neighborhood Center by mail or in person.
Step 3: Fill out your IDA Application and assessments.
Incomplete applications are not accepted. Application and assessments include:
- Click here to start your online application. Please print one-sided and pay close attention to the checklist. You may also request an application from a John Boner Neighborhood Centers financial coach.
- Complete the assessments linked here. – Combined Financial Assessment
Step 4: Make an appointment with a financial coach & turn your IDA application in to that coach (or let them know you applied online).
Make an appointment by emailing IDA@jbncenters.org or calling our office at 317-633-8210 and asking to speak to a financial coach. Your financial coach is part of your coaching team and will connect you to your other team members (career coach & case manager). Your team is here to help you achieve your goals. If you are already working with a financial coach at another center, please let us know.
Submit an appointment request:
*Your financial coach is part of your coaching team and will connect you to your other team members (career coach & case manager). Your team is here to help you achieve your goals. If you are already working with a financial coach at another center, please let us know. Together, you and your coach will complete & sign the IDA assessment form in the application.
Step 5: What Happens Next?
Your coach will turn your completed application in the IDA Program administrator, who will contact you with a status:
- Approved – The administrator will make arrangements with you to complete the enrollment process and open your account.
- Denied – The administrator will provide you with the reason for denial and any additional steps you can take.
- Incomplete – The administrator will inform you of additional information needed and ask you to collect your application and resubmit with all documents.
- Wait list – Your application is approved but you will open at a later date typically because accounts are not currently available or you and your coach determine that you are not yet ready to open an account.
Forms & Additional Resources
Explore other supportive resources available to you:
- Home Ownership IDA: Indianapolis Neighborhood Housing Partnership (INHP)
- Small Business IDA: Business Owners Initiative (BOI)
- For Job Training/Education IDA email careers@jbncenters.org to meet with a career coach for planning assistance
IDA Management Document Links
Schedule an appointment with a financial coach.
You may do so by emailing IDA@jbncenters.org or calling our office at 317-633-8210 and asking to speak to a financial coach.
