On This PageDecember 2002, No. 184

Financial Institutions as Stakeholders in Individual Development Accounts
Last Updated: 11/14/02

This article reports on the experiences and motivation of banks and credit unions in the Midwest that participate in individual development account (IDA) programs, one of a handful of vehicles that give lower-income workers a direct incentive to save. Interviews with participating institutions confirm the appeal of IDAs as a community outreach tool, as well as a way to target an under-served market—workers who do not have bank accounts.