WSCAT is not currently accepting IDA applications. Please contact IDA staff directly before completing an application.
IDA Application:
Download Part 1 of the IDA Application Here
Download Part 2A of the IDA Application Here
Download Part 2B of the IDA Application Here
Download Part 3 of the IDA Application Here
Online: Fill out Part 1 of the IDA Application Online Here
Burns Applicants: Fill out Part 1 of the IDA Application Online Here
IDA Guidelines for Each Asset:
Allowable Purchases for Each Asset
Client Withdrawal Forms:
Download the IDA Matched Withdrawal Form Here
Download the Emergency Withdrawal Request Form Here
Asset Specific Education:
Download Asset Specific Education Here
The goal of WSCAT’s Individual Development Account (IDA) Program is to assist lower income people on the Warm Springs Reservation in moving towards greater self-sufficiency by:
- Accumulating savings;
- Purchasing long-term assets; and
- Managing their finances wisely.
IDAs, or individual development accounts, are matched savings accounts that enable people to accumulate savings and purchase assets. Program participants are responsible for depositing money into savings accounts, for which they receive matched savings contributions. For each dollar participants deposit in their IDA, they receive $5 in matching funds to be used towards the purchase of an asset.
Eligibility
To participate in WSCAT’s IDA program, a person must:
- Be at least 12 years of age.
- Reside, work, or have an address on the Warm Springs Indian Reservation.
- Be able to attend and complete WSCAT’s financial education courses.
- Be able to complete WSCAT’s asset specific education course, for their asset.
Participants must meet annual Income Guidelines as published by the Oregon IDA Initiative and have a household net worth of less than $20,000. You can view eligibility here. For further questions or to apply, please contact the WSCAT office, at 541-553-3148.
How the IDA program works
Our IDA program enables you to save your own money in a bank account and have that money matched with dollars from state, federal, and private funders. With the money you save and the matching dollars, you must purchase an asset. Qualifying assets include home purchase or repair, business startup or expansion, education (either college or vocational), home renovation, assistive technology, motor vehicles, rentals, debt repayment, or emergency savings (when combined with other assets). Because WSCAT works with a wide range of generous donors, we are able to provide Warm Springs community members with matching funds at a 5:1 rate. This means that if you save $1,000, you will receive $5,000 in matching funds toward the purchase of an asset! Depending on the type of asset you are saving for, there is a minimum savings period of 6 months.
In the coming years, the IDA program may allow community members to save for new types of asset purchases, including retirement savings accounts and credit building.
Educational requirement
IDA clients must do more than be accepted into the program and save their own money to receive the IDA matching funds. All clients must complete financial empowerment training and asset-specific education to help them make the most of their savings. The financial empowerment training course taught by WSCAT is called Building Native Communities: Financial Skills for Families course, and it is described in the Personal Finance section of our website. If clients are unable to attend the class, they can also complete a self-paced course. Asset-specific educational offerings are also highlighted in the Indianpreneurship and Homeownership sections or through the link above.
From 2009, when the program began, until December 31, 2022, 468 Warm Springs community members opened IDA accounts, and 308 made asset purchases using their IDA savings. Fifty seven program participants bought assets for their small businesses, 38 paid for college or vocational education, 104 purchased vehicles, 25 made down payments on a house, 44 renovated their homes, 2 purchased assistive technology, 1 moved into a rental, 5 paid off debt, and 32 have made matched emergency withdrawals. In total clients have saved $330,540 in their own money, which has been matched with $1,546,236 through the IDA program. In the coming years, we hope that hundreds more Warm Springs community members will take advantage of the IDA program. Please don’t let this opportunity slip by you; join others on the path to financial success!
In 2022, we also expanded our IDA program to Burns Paiute Tribe. Currently, a small number of participants are able to enroll in Microenterprise IDAs in the Burns Paiute community.
If you are scheduled for an IDA intake please bring in the following that apply to you:
- Photo ID/Proof of Oregon residency
- 1 month of consecutive paystubs
- If you receive per capita, food stamps, housing assistance, unemployment, pension or a similar payment, please contact the issuing agency for a statement or award letter
- If needed, we may also require your most recent tax return and verification of any assets and liabilities