Matched Savings Programs

CAAB helps youth, adults, and couples save money to go to college or a professional or trade school, buy a home, or start or expand a business. CAAB’s matched savings accounts—also known as Individual Development Accounts (IDAs) or Marriage Development Accounts (MDAs)—are available to eligible DC residents who meet income guidelines and other program requirements. CAAB raises funds from the federal government, the District of Columbia, foundations, and individual donors to match $3 for each $1 that a participant saves.

More than 1,400 individuals have enrolled in CAAB’s matched savings programs since 1997. As of November 25, 2008, 535 have reached their savings goals and purchased their chosen asset:

• 237 have purchased their first home
  
• 234 have furthered their education
  
• 64 started or expanded a small business
  
• These individuals saved more than $493,000 in their accounts and invested more than $2 million in appreciating assets.
  

Want to help individuals build their assets?

Learn how you can support CAAB's matched savings programs and leverage your donation dollar-for-dollar!