United Way’s Individual Development Account (IDA) program United Way of Greater Milwaukee’s Individual Development Account Program (IDA) encourages and rewards savings towards a home or postsecondary education by matching participants’ deposits. Through a federal grant obtained by the Boys & Girls Clubs of Greater Milwaukee and funds raised by United Way of Greater Milwaukee, savings are matched $4 to $1 for first-time low-income home buyers, and $6 to $1 for postsecondary education. Participants must also take part in financial counseling classes in order to enroll in the program. IDA ELIGIBILITY REQUIREMENTS For Homeownership IDAs you must: • Be a first-time homebuyer. • Show proof of employment. • Have a net worth less than $10,000 (excludes value of one vehicle per household). • Be able to make monthly deposits to a savings account. • Meet household income requirements (see below). For Education IDAs you must: • Be at least a junior in high school (with a 2.0 GPA or higher; returning adult students are eligible). • Show proof of employment (under 18: child or parent). • Have a net worth less than $10,000 (excludes value of one vehicle per household). • Be able to make monthly deposits to a savings account. • Meet household income requirements (see below). HOUSEHOLD INCOME REQUIREMENTS Size: Income must be at or under: 1 $21,660 or less 2 $29,140 or less 3 $36,620 or less 4 $44,100 or less 5 $51,580 or less 6 $58,540 or less Each additional $7,480 Qualifying income must fall within 200% of the 2009 Department of Health & Human Services Poverty Guidelines above. Research shows that homeownership promotes healthier families and safer neighborhoods. Start saving now to achieve your dream and you could receive up to $4,000 in FREE grant assistance within six months. Learn more: Homeownership IDA: Select Milwaukee - 414-562-5070. Education IDA: Jenell Hackley, Boys & Girls Clubs of Greater Milwaukee - 414-267-8150.