Article Archives: Utah

Individual Development Account Opportunity in Utah
The Utah Individual Development Account Network (UIDAN) is a statewide individual development account (IDA) program and a subsidiary of Utah Issues. Utah Issues is a 30-year-old nonprofit striving to improve the quality of life in Utah by seeking long-term solutions to poverty through various means, including asset-based community development. UIDAN was established in 2004 and, in its first year generated more than 30 savers with more than $22,000 in combined funds from savings accounts and matched funds.

UIDAN proposes to match savers' deposits at a ratio of three to one. As with most IDA programs, UIDAN solicits investments for operating and matching funds. Program participation has expanded to include low-income urban, rural, and tribal communities outside of the original Salt Lake City service area. UIDAN plans to expand, again, into southwestern Utah.

For more information, contact Martha Wunderli, UIDAN's Coordinator, at Martha@utahissues.org.
[Published in News from the Districts, Community Developments Investments, Spring 2006]