Main Page | About NWGF | About NWGF Homes | Outside Of Great Falls
Buying a Home | Fixing & Keeping Your Home | Lender Information

Individual Development Account

SAVE AND SUCCEED!

An Individual Development Account (IDA) is a matched savings account that allows individuals and families to build assets. The savings in this account will be matched 4:1. If you save $1,000 you will be matched $4,000.

Some Requirements:

  • You must be a first time home buyer
  • You must save for at least six-months in the IDA program.
  • You must make consistent monthly deposits into the account.
  • You must deposit a minimum of $25 each month.
  • You must participate in the Homebuyer Education and Financial Fitness classes.

If you are interested in the program contact the IDA Coordinator at (406) 761-5861.

Income Guidelines

Family Size
1
2
3
4
5
6
7
8
Maximum Income $28,100 $32,100 $36,150 $41,300 $48,260 $55,220 $62,180 $69,140

To qualify for the IDA program you will need to have an income equal to or less than the Maximum Income for your Family Size.

Financial Lender Partners

The following Financial Partners will help you set up your IDA savings account:

  • Wells Fargo Bank
  • First Interstate Bank
  • Stockman Bank
  • Community Federal Credit Union
  • US Bank

Education and Workshops

The following classes will be held by NeighborWorks Great Falls and Consumer Credit Counseling Services during the time a participant is involved in the IDA program. Participants are required to attend.

  • Budgeting and Financial Decision making
  • Managing Money
  • Homebuyer Education
  • Financial Fitness
  • Understanding Credit
  • Getting a Mortgage Loan

The Weed and Seed Program

Weed and Seed is a multi-agency strategy that works to combat crime with local police enforcements and to “seed” the area by restoring the neighborhoods through social and economic revitalization.

The Weed and Seed area includes the South side, Northwest side and the Southwest side of Great Falls.

Please view a map

Those participating in the IDA program must purchase a house within the designated map area, in order to receive the 4:1 savings match.

Interested individuals and families must complete a qualifying process for acceptance into the Individual Development Account.

NeighborWorks Great Falls Partners

  • Consumer Credit Counseling
  • Weed and Seed Program
  • The Kellogg Foundation
  • Montana Legal Services
  • Benefis Hospital

Individual Development Account Brochure

FOR ADDITIONAL INFORMATION CALL:
NeighborWorks Great Falls
761-5861
509 1st Ave S.
Great Falls , MT 59405