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How do I become Eligibile:

  • Must be at least 15 years old
  • Must be an Oregon resident
  • Must be income eligible (see Eligibility Quiz)
  • Must pass “net worth test”
  • Must be able to spend funds within 6 months of reaching end date

Financial qualifications:

  • If you receive TANF, or the Earned Income Tax Credit , then you may qualify for VIDA.
  • If you have low-to-moderate income you probably qualify for VIDA.
  • A representat ive from a VIDA partner organizat ion can help determine if you qualify for the program before you apply.

Program Expectations:

As an IDA saver you will:

  • Open your account within 30 days of receiving your enrollment acceptance letter from CASA Oregon
  • Maintain good record-keeping practices (keep deposit slips, withdrawal document, receipts, email, etc.)
  • Participate in 10 hours of Financial Education course
  • Take part in minimum of 6 hours of asset-specific training
  • Make monthly deposits of at least $25 with no missed deposits
  • Stay on track to reach your goal by the designated end date
  • Work closely and communicate often with your specialist
  • Complete all required paperwork for enrollment, withdrawals, and program graduation
  • Be prepared to purchase your asset within 6 months after savings end dateRemember the big picture; you are achieving a major life goal!

Using IDA Funds:

  • IDA funds are held in a separate account at one of CASA’s partner financial institutions
  • The account is a co-signed/joint account so you need permission to withdraw your funds
  • Contact your IDA specialist in order to make a withdrawal
  • Withdrawals can be made only for your designated asset
  • You may access funds as early a 6 months into the savings period
  • Funds are always payable to the vendor
  • Depending on your asset, talk to your IDA specialist on the  ways you can use your IDA funds