Individual Development Accounts

Achieving Dreams and Building Assets Through Matched Savings

United Way offers the Individual Development Account (IDA), an innovative matched savings program that allows families to build assets and develop skills for financial self-sufficiency.

Through the IDA participants benefit through financial skills development, financial coaching, access to financial services and training related to the participant’s primary savings goal.  The IDA is a program serving the city of Birmingham that provides opportunities for individuals with low-to-moderate income to:

  • purchase a first-time home
  • start or expand a small business

United Way of Central Alabama coordinates the IDA’s through the Assets for Independence Program, an initiative of the Office of Community Services of the U.S. Department of Health and Human Services. IDA’s are available to qualifying hard-working Alabamians whose incomes and assets fall within federally determined limits.


  • How does the Individual Development Account work?
    • The IDA is a special U.S. government funded savings program allows qualified applicants to have up to $2,000 of earned income savings matched with $4,000 for a total of $6,000 that can be used to help achieve personal financial goals – towards the purchase of a home or to start or expand a small business.
    • The IDA program is part of Assets for Independence, a federal program administered by the Office of Community Services of the U.S. Department of Health & Human Services. United Way of Central Alabama serves as an administrator for the IDA program.

    By enrolling in the Individual Development Account program, you will learn the benefits of saving, receive financial education and credit counseling (if needed), become eligible for free income tax preparation assistance and have the opportunity to develop smart financial habits that will benefit you for the rest of your life. Consider enrollment in this financial planning and assistance program today.

  • How do I know if I qualify for an Individual Development Account?

    To be eligible for the IDA program, individuals must have:

    • Earned income
    • Annual adjusted gross income of less than $55,500 for family of four and $27,180 for an individual.
    • No more than $10,000 in total net worth excluding an automobile and home.

Learn More

To get more information about United Way’s IDA program and to confirm your eligibility, call us at 205.458.8970 or email