Mission Statement:       To invest in individuals, families, and rural communities by developing ownership, equity, and skills.

1107 N. Baker Street

P.O. Box 1193

McMinnville, OR

97128

Phone

(503) 434-5265

Toll Free

(866) 544-0191

TTY

(800) 735-2900

Fax

(503) 472-5693

VIDA

Valley Individual Development Accounts (VIDA) is a program collaborative of non-profit organizations throughout the Mid-Willamette Valley of Oregon.  VIDA’s purpose is to prepare and assist families and individuals of modest means to accumulate wealth and grow financially through Individual Development Accounts (IDA).  The program offers economic assistance as well as training in homeownership, small business, and/or education or job training.

WHAT IS AN IDA?
An Individual Development Account (IDA) is a special savings account designed to match your savings.  The savings are then invested in the purchase of one of the following assets you choose:

• first time home purchase

• start or expand a small business

• post-secondary education or job training

You and the administrator of VIDA (CASA of Oregon), open a savings account at a participating financial institution.

WHAT IS THE SAVINGS LIMIT & HOW LONG DO I HAVE TO SAVE?
VIDA allows you to save a maximum amount of $1,334. If you save the maximum of $1,334 your savings are matched at the rate of 3:1 (for every dollar you save, you get three dollars) up to an additional $4,000. At the end of your savings plan, you will have a total of $5,334 plus any interests accumulated.

VIDA is a six month to three year program. How long will it take you? It depends on how much you save every month to reach your savings goal.

WHAT DO I NEED TO KNOW?
You will need to be able to show a 3 month pre-savings of at least $25 per month prior to submitting your application.  Once you have been accepted into the program, you need to make your monthly deposits into your IDA savings account, attend a financial planning training course, and the appropriate asset training according to your goal.