IDA Matched Savings Program
Earn $2 for every dollar you save toward your home, car, business or education
An Individual Development Account (IDA) is a 'matched savings' program. This means that as you save money, the IDA program will match your savings at a rate of $2 for every $1 you deposit! Save up to $1,500, and CRT will match the amount up to $3,000.
A savings and purchase plan can help buy a home or a car for work, start a business, or pay for an education. Attend monthly workshops on budgeting, credit repair and more. Workshops are open to the public. English and Spanish are available.
Attend one of our monthly information sessions. Then fill out a pre-application form and an information release to begin the process. Participants must:
- Be working or receiving Social Security Disability benefits
- Have job-related income
- Meet income limits
- Have a fair - excellent credit rating
- If saving for a house, have a credit score high enough to become an approved mortgage holder within three years
You will need the following papers to apply:
- Most recent tax returns
- A month of pay stubs (or budget sheet from Social Security)
- Credit Report (less than six months old)
- Credit Score (less than six months old)
- Social Security card or photo ID card
Call to schedule a meeting to review your paperwork:
- Interested in home ownership – call (860) 560-5149 or (860) 560-5786
- Interested in saving for a business, an education, or a car for work – call (860) 560-5381
After meeting with your case manager, you will take 12 hours of financial literacy training. Training is also online for easy access. Once approved, an acceptance letter will be sent to you.
Address: 395 Wethersfield Avenue, Hartford
Telephone: (860) 560-4210
Office Hours: Mon - Fri 8 am - 4 pm
CRT is a recognized adopter of the National Industry Standards for Homeownership Education and Counseling.
Funding provided by