Matched Savings and Becoming Self-Sufficient Programs

Matched Savings Programs for Northeast Michigan Families

Alcona | Alpena | Arenac | Cheboygan | Crawford | Iosco | Montmorency | Ogemaw | Oscoda | Otsego | Presque Isle

Individual Development Account (IDA)

family looking at home for saleMoney IDA is an Individual Development Account Program that matches participant savings, allowing low-income individuals the opportunity to save for one of three asset purchases: home ownership, post-secondary education/vocational training, and small business development or expansion. To be eligible for the program, potential participants must have a source of earned income, be within 200% of the poverty guidelines, and be eligible to receive TANF services. The program requires 6 hours of financial skills education and 8-10 hours of asset-specific training to help prepare participants for their asset purchases. If you would like to read more about the program and eligibility requirements, you can read the frequently asked questions here.

To apply, please fill out the application and return it to our Financial Coach, you may also reach her at 989-358-4653.


Account holders save for their chosen assets and the program matches their savings on a 3:1 (home ownership), 2:1 (education), and 2:1 (business) ratio.   * Maximum savings amount to be matched is $1,000.

Graduation cap and diplomaParticipating in the IDA program was very helpful to my family, it helped us to set a goal to save money and achieve it. The home buyers and financial classes were a learning experience for us. We are so glad we had the opportunity to be a part of NEMCSA's program.

* Please note that all of the IDA program openings are filled and this program is currently not accepting new applicants*


Family Self-Sufficiency

The Family Self-Sufficiency Program provides case management to participating families through a coordination of local, community-based resources that promote economic independence. The program goals are to help families maintain employment, become self-sufficient, move off assistance and move into home ownership. Through this process, participants work to increase their family income and lead to higher rent payments. In turn, the difference between rent amounts is deposited into an escrow account. Upon successful completion of the program, participants can use their escrow account funds for homeownership down payment assistance, debt relief, vehicle purchase or educational expenses.

NEMCSA operates the FSS program in conjunction with MSHDA for up to 33 eligible Housing Choice Rental Voucher holders in the following twelve counties: Alcona, Alpena, Arenac, Cheboygan, Crawford, Iosco, Montmorency, Ogemaw, Oscoda, Otsego, Presque Isle and Roscommon.

For more information, please contact our Financial Coach at 989-358-4634.


Youth Individual Development Account

The Youth Individual Development Account (IDA) is a financial literacy program specifically targeted at local high school students. This program consists of a series of 6 financial literacy classes. Students that are interested will participate in these classes throughout the school year. Our hope is that by educating the students before they leave high school, they will be better prepared to make financial decisions as they become adults. This is the first year for the program, and NEMCSA is very excited to make it successful, and hopes that this program is able to be spread across our service area and impact more students.