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IDA Programs


Westwater Financial offers an IDA (Individual Development Account) Program to qualifying individuals. This is a matched savings program in which the participants make deposits from earned income of an agreed-upon fixed amount (minimum of $25) and, after successfully completing the program, receive matching funds for every $1 they have saved in their IDA. Westwater’s IDA Program is specifically designed to help low-income participants improve their financial situation through asset acquisition.  Frequently asked questions about our IDA Program are answered below. Forms relating to participation in the program can be accessed at the bottom of this page.

How does Westwater’s IDA program work?   Participants who qualify to open an IDA and are selected for participation work with Westwater staff to develop a savings program. Participants must attend financial education classes and deposit a specific amount of money each month in an account at a participating credit union or bank; participants must also comply with specific reporting requirements. Upon successful completion of the program, participants will have disbursements made for the acquisition of their asset goal (post-secondary education, business capitalization, or first-time home ownership) from the IDA matching funds account at the rate of 3 to 1. There are restrictions on the amount of money participants may deposit and the number of months such deposits may be made.  Please see the IDA_Program_Policies_&_Procedures document at the bottom of this page for additional important information.

Who qualifies for participation in the IDA program?   Westwater’s primary mission as relates to its IDA Program is to help low-income members of the Dry Creek Rancheria Band of Pomo Indians. We hope to open up this program in the near future to other Native American families in our service area.

What is the application process?  Complete the IDA_Program_Policies_&_Procedures  document, available at the bottom of this page. You may print out and mail it to Westwater Financial, drop it off at the Westwater office, or fax (See Contacts Tab). Or you may complete and attach it to an e-mail addressed to cindib@westwaterfinancial.org with the subject heading IDA INFO REQ.  Please contact Cindi Brown at (707) 419-3070 with questions or if you experience difficulties with the application process.

For more information, check out our Individual Development Accounts – Frequently Asked Questions

Application IDA

IDA Contract

IDA Program Policies Procedures

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