In the United States, an Individual Development Account (IDA) is a matched savings account that enables low-income American families to save, build assets, and enter the financial mainstream. IDAs supplement the savings of low-income households with matching funds drawn from a variety of private and public sources.
Read more about Individual Development Account: Purpose, Details, Usage Data
Famous quotes containing the words individual, development and/or account:
“Who can measure the advantages that would result if the magnificent abilities of these women could be devoted to the needs of government, society and home, instead of being consumed in the struggle to obtain their birthright of individual freedom? Until this be gained we can never know, we can not even prophesy the capacity and power of women for the uplifting of humanity.”
—Susan B. Anthony (1820–1906)
“To be sure, we have inherited abilities, but our development we owe to thousands of influences coming from the world around us from which we appropriate what we can and what is suitable to us.”
—Johann Wolfgang Von Goethe (1749–1832)
“An inquiry about the attitude towards the release of so-called political prisoners. I should be very sorry to see the United States holding anyone in confinement on account of any opinion that that person might hold. It is a fundamental tenet of our institutions that people have a right to believe what they want to believe and hold such opinions as they want to hold without having to answer to anyone for their private opinion.”
—Calvin Coolidge (1872–1933)