VALLEY INDIVIDUAL DEVELOPMENT ACCOUNTS

The Valley Individual Development Account (VIDA) program gives low-income families an opportunity to establish special savings accounts that can be used to purchase a home, start a small business, or fund education and job training.

To be eligible for the VIDA program, families must earn 80% or less of the area median income, and have a net worth of less than $20,000. Every dollar saved during a three-year period is matched 3-to-1, up to a total of $3,000 in matched funds. The savings and matching funds must be accumulated and used within a specified period. In addition, applicants to the program must:

	Demonstrate the ability to save by setting aside funds for three consecutive months
	Save a predetermined amount monthly
	Enroll in a 10-hour Financial Future class that covers basic budgeting and use of credit, as well as financial planning and asset building

Participants receive an average of 10 hours of follow-up training and case management. Space is very limited for this program.

For more information about how Willamette Neighborhood Housing Services can help you access the VIDA program, send email to info@w-nhs.org or call us at 541.752.7220.