Individual Development Accounts

Services

An IDA is a matched savings account. This means that if you can save a certain amount of money within a certain amount of time, the IDA Program will match it at a certain rate. CRT IDA programs allow you to save up to $1500 with a match rate of 1:2, which means that you will receive up to $3000 if you save the full amount.

Application Process

Individuals wishing to be considered for the program should attend an information session held twice monthly at 395 Wethersfield Ave. in Hartford or fill out an IDA Pre-Application Form. Certain documents are required for an interview with a CRT Case Manager. They include:
- Most recent year's tax return
- A month of paystubs (or budget sheet from Social Security)
- Credit Report and score (less than six months old)
- Social Security card.

Eligibility Requirements

Participants must be working or receiving Social Security Disability. An individual is eligible if:
- They are a member of a household that
is eligible for assistance under the State Temporary Assistance for Needy Families Program (TANF) or
- They are a member of a household whose total income is within 80% of the CT Area Median income based on the town of residence.
- They are a member of a household whose Adjusted Gross Income does not exceed the eligibility amount for receiving the Earned Income Tax Credit for the size
of their household.

Service Hours and Locations

For more information contact:
(860) 560-5149 or (860) 560-4210