• 63 percent of U.S. families below the federal poverty line have one or more workers, according to the Census Bureau. (Source: Michelle Conlin and Aaron Bernstein.  “Working…and Poor”, Business Week, May 31, 2004)
• 3.5 million full-time workers earned less than poverty-level wages.  (Source: Thomas Z. Freedman.  “How to Really Help Low-Wage Workers,” The Washington Post, February 2, 2007)

What is an IDA?
Individual Development Accounts, or IDAs, are matched savings accounts designed to help low- to moderate-income families accumulate savings for long-term assets such as a house, vehicle, a small business, or post-secondary education.  The match incentive is similar to an employer match for a 401(k) or other retirement savings plan and is provided by a variety of government and social sector sources.  IDA programs are implemented by community-based organizations in partnership with a financial institution that holds the deposits. More than 500 IDA programs have been launched across the country, allowing more than 15,000 people to save and build assets.