What is VIDA?

VIDA (Virginia Individual Development Accounts) is a match savings program for individuals of modest means that allows you to save, and have your savings matched $8 for every $1 you save. You can save up to $500, and with the match your total savings can be $4,500 of funds to be used towards education or your business. Interested in applying? Read about how it works with our VIDA Business Development Timeline!

EARN $8 FOR EVERY $1 YOU SAVE! 

Am I Eligible? 

  • Are you 18 years or older?
  • Are you a U.S. citizen or legal resident? Do you live in Virginia?
  • Do you have earned income?
  • Do you have a household net worth less than $10,000 (excluding primary residence and one car)?
  • Do you meet household income limits?

If you received TANF, free or reduced lunch programs, or qualify for the earned income tax credit on your previous year’s taxes, you qualify for VIDA.

Schedule an appointment to learn more!

How Can I Use My Funds 

Business Development

You can use your funds towards start-up or expansion of your business. Examples include: ad design, website development, growing inventory, or investing in equipment. 

Home Purchase

You can use your funds towards the down payment or additional principle payment on a home you are wanting to purchase as a first-time home buyer