Individual Development Accounts (IDAs)

Post Secondary IDAs

Innovative Changes offers IDAs for post secondary education. We prioritize working with clients and those who do not already have a bachelor's degree. We do this because the difference between not having a 4 year degree and having one is tremendous and a bachelor's degree allows you to earn much more over your lifetime. We also prioritize working with women from communities of color because they statistically have the least amount of wealth. 

 

We are open to working with clients that are not in our priority groups as well. We look for applicants who have:

 

  • A clear plan for their education and how it will prepare them for their career.

  • A clear idea of how much their education will cost them overall.

  • The capacity to save a minimum of $35 every month for 24 months.

  • A plan for how they will make adjustments to their budget and schedule to incorporate savings. 

 

Education IDA funds can be used to pay for tuition and fees at an accredited university/college, books and supplies (if bought through the college) and in some cases equipment and technology.

 

If you are interested in attending an unaccredited program or using a IDA to pay for employment-related technology, equipment or training, you can access our vocational training IDA. 

Adaptive Technology IDAs

 

Adaptive Technology/Employment Related Technology, Training & Equipment IDAs are for savers who are looking to receive training and enter a career that is not found at a traditional university. This could be a vocation, trade or other career path. IDA funds can be used to purchase some of the following items:

  • Equipment related to your trade/career - tools, furniture, a car needed for employment & more.

  • Training - at an accredited college, unaccredited college and privately run trainings/workshops.

  • Technology - computers, software, online training, online memberships, & more.

For more organizations offering this Adaptive Technology IDA visit www.vidaoregon.org.  

Retirement IDAs

Retirement IDAs are for savers who are looking to jump start their retirement savings. Savers can use their savings and match as a deposit to an existing, or for the creation of a new 401K or IRA style retirement product. We will prioritize working with those applicants who do not already have retirement savings accounts. We are open to working with clients who are not in our priority groups as well. We look for applicants who have:

  • The capacity to save a minimum of $35 every month for 24 months.

  • A plan for how they will make adjustments to their budget and schedule to incorporate savings.

  • Interest in and commitment to researching various retirement plans to find the best fit for them.

 

Other Uses

 

If you are interested in saving for homeownership or small business development, IC$ does not offer these IDAs. You can contact the following organizations for these IDAs.

 

Small Business Development

MESO:  www.mesopdx.org

Mercy Corps NW:  www.mercycorpsnw.org

 

Homeownership

Portland Housing Center:  www.portlandhousingcenter.org

Proud Ground:  www.proudground.org

​​Call us:

(503) 249 5205