Individual Development Accounts (IDA)
A "savings match" is a promise to supplement an IDA participant's savings deposits at a specific rate; in other words, a 4:1 savings match means that for every one dollar a RivCo IDA participant saves (up to a maximum of $1,000), he or she will earn another 4 dollars toward the purchase of his or her total asset (maximum match of $4,000).
Matching funds can ONLY be used for one of three goals:
2. Advanced educational or vocational training, or
3. Buy a first home.