Oregon Housing and Community Services (OHCS) and Neighborhood Partnerships (NP) award $6.62 million to help families and individuals save and build assets. The funding was granted to 11 organizations in support the Individual Development Account (IDA) Initiative.

“The IDA program helps increase economic mobility and asset building and helps people improve their financial independence,” said OHCS Executive Director Andrea Bell. “One of the things we all have in common is that we want to take care of ourselves and our families. This initiative is one of the ways OHCS and partners help make this possible. Regardless of the different ways the IDA program is used across Oregon, it is anchored in making everyday life better for people on their own terms.”

IDAs are an economic empowerment tool that support people in reaching financial goals by matching their savings up to 5-to-1 and connecting them with community-based education and support. A statewide network of more than 60 IDA providers reaches rural and urban communities.

“The organizations that administer IDAs are doing amazing work across the state,” said Luke Bonham, IDA program manager at Neighborhood Partnerships. “They come alongside to support Oregonians as they make what is often the biggest financial decision of their lives.”

IDAs combine financial education, matching cash with savings, and personalized support to achieve financial goals such as homeownership, small business development, and post-secondary education. These modest investments bring a host of benefits to Oregon households, including a safety net in the event of financial emergencies, confidence to plan for the future, and a pathway to economic mobility.

“Access to resources can be extremely limited in rural Oregon—but the IDA program is a game-changer,” said Donna Lindsey of Klamath Housing Authority – HomePath Program. “It equips individuals with vital financial education, empowers them to build assets, and supports their journey toward financial independence and long-term stability."

Since its launch 25 years ago, the Oregon IDA Initiative has reached more than 19,000 Oregon households across the state.

"The IDA program has infused hope into our rural tribal community, and Warm Springs Community Action Team gets to help guide the community toward a resilient financial future,” said Gordon Scott, IDA Asset Building Program Manager at Warm Springs Community Action Team.

Carl Thomas, executive director of Project Youth Plus in Grants Pass, added: "The Oregon IDA Initiative is an important aspect of how we offer our at-risk youth in our small communities a hand up."

Support for the IDA Initiative comes through the Oregon IDA Tax Credit. Donors to the Oregon IDA Initiative can receive a majority of their donations back as an Oregon State Tax Credit and the remaining amount as a Federal Charitable Deduction. Learn more about the Oregon IDA Initiative.