About the Program
  The Delawareans Save! Individual Development Account (IDA) program is a special savings program that assists you in building assets and increasing wealth. It will match your savings two-fifty for each dollar saved for specific purposes.

To join, follow the steps below:

bullet Contact a Delawareans Save! IDA partner office.  Attend an information session and an eligibility appointment.
bullet Complete the financial fitness program.
bullet Open an IDA saving account. The IDA saving account is established between you and Delawareans Save! at a designated Delaware bank.
bullet Obtain assistance to reach your goal.
bullet Meet your goal and receive at least a 2.5:1 match.
bullet Purchase your asset!

The maximum that you may save and get matched is $1,500 per person or $3,000 per household.  Each dollar you save, according to program guidelines, will be matched with two dollars and fifty cents.  That means, including your savings and match, you may obtain up to $5,250 per individual or $10,500 per household!  

With a Delawareans Save! IDA you must save for at least 6 months. The longest time you may save in the program is 36 months, depending on the date that you begin saving.

You must save a minimum of $25 per month and up to a maximum of $250 per month to receive the corresponding matching dollars that month.  (Please note: In order to save the full $1,500 in 36 months, you must deposit more than just $25 a month.)

When you reach your Delawareans Save! savings goal and finish the steps of the program, you and your counselor will meet to fill-out the withdrawal request. A check will be written to you and the provider of your asset purchase (such as a college, real estate attorney or business equipment provider).
 

Delawareans Save! is administered by First State Community Loan Fund