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Individual
Development Account (IDA/LA)
An Assets for Independence Program
Los Angeles city residents whose earnings fall within certain income limits may qualify to participate in the Individual Development Account, or IDA/LA, program. Services include financial education and support for low-to-moderate income city residents to save a portion of their earnings. Participant savings are matched by the IDA program which, then, can be used for an allowable purpose that has lasting value.
The following purposes are approved uses of IDA/LA program savings:
- Pursuing higher education from a recognized college or university
- Enrolling in and completing a vocational course of study from a recognized institution that leads to a certificate or diploma
- Buying a first home
- Starting a small business
- Transferring accumulated matched savings to a dependent for an allowable educational purpose
To learn more about the requirements for participation in the IDA program and the current rate at which savings are matched, contact any of the agencies listed below:
- Children's Bureau of Southern California
3910 Oakwood Avenue, Los Angeles, CA 90004
(323) 953-7356
http://www.all4kids.org
- The Children's Collective
3655 S. Grand Avenue, Suite 210, Los Angeles, CA 90007
(213) 747-4046
www.thechildrenscollective.org
- El Centro de Ayuda
2130 East 1st Street, Suite 350, Los Angeles, CA 90033
(323) 265-9228
- El Centro del Pueblo
1157 Lemoyne Street, Los Angeles, CA 90026
(213) 483-6335
www.elcentrodelpueblo.org
- Jewish Vocational Service - Career Planning Center
13160 Mindanao Way, Suite 240, Marina Del Rey, CA 90292
(310) 309-6000 • (310) 309-6018 TTY
www.jvsla.org
- Los Angeles Community College District & Los Angeles Mission College
436 North Maclay Avenue, San Fernando, CA 91340
(818) 837-2236
- Neighborhood Legal Services of Los Angeles County
13327 Van Nuys Blvd, Pacoima, CA 91331
(818) 896-5211
http://www.nls-la.org
- New Economics for Women
303 South Loma Drive, Los Angeles, CA 90017
(213) 483-7848
http://www.neweconomicsforwomen.org
- Toberman Settlement House
131 North Grand Avenue, San Pedro, CA 90731
(310) 832-1145
http://www.tobermansettlementhouse.org
- Watts Labor Community Action Committee
10950 South Central Avenue, Los Angeles, CA 90059
(323) 563-5600
http://www.wlcac.org
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