Building Assets for a Stronger Future: How the IDA Program Helps Reno County Residents Achieve Financial Independence

For many individuals and families, building long-term financial stability can feel out of reach without access to savings, credit, or financial education. In Reno County, the Individual Development Account (IDA) program is helping change that by giving participants the tools, guidance, and financial incentives needed to build assets and invest in their future.

Administered by Interfaith Housing & Community Services and supported by United Way of Reno County, the IDA program helps qualifying individuals develop strong financial habits while saving toward major life goals such as homeownership, education, or starting a small business. Through a structured savings program and financial coaching, participants are empowered to build a solid financial foundation that can lead to long-term stability and independence.

Turning Savings into Opportunity

The IDA program is designed to help participants save for high-return assets that can improve their long-term financial outlook. After completing financial education, participants open a dedicated savings account and receive a 2:1 match for every dollar saved.

Those savings can be used for important investments such as:

• Purchasing a first home
• Making critical repairs to a current home
• Continuing education through college, technical school, or job training
• Starting or expanding a small business

Participants begin the program by completing an online financial education course through eHome America. After finishing the course, they receive personalized budgeting assistance and credit counseling from Interfaith staff before opening their savings account. Once enrolled, participants commit to saving at least $25 per month, building toward their chosen goal over a period of up to four years.

Building Healthy Financial Habits

The IDA program is designed not only to help participants save money, but also to build lifelong financial skills that support long-term stability.

The program focuses on four key financial habits:

• Regulating spending to improve household cash flow
• Managing debt and leveraging credit to maintain a strong credit profile
• Implementing intentional savings to create financial security
• Making disciplined financial decisions that support long-term goals

These habits help individuals move away from reliance on public assistance and toward greater financial independence.

Personalized Coaching and Long-Term Support

Throughout the program, participants are paired with a dedicated financial coach who provides guidance every step of the way—from budgeting and saving to purchasing their chosen asset.

Participants receive:

• One-on-one financial coaching from Interfaith staff
• Budgeting support and credit counseling
• Access to credit-building tools and financial resources
• Continued guidance as they work toward their savings goals

This ongoing support helps participants stay motivated and overcome financial challenges that may arise during the savings process.

Removing Barriers to Financial Security

Many individuals face obstacles that make it difficult to build savings or access financial opportunities. The IDA program works to remove these barriers by providing structured support and access to financial tools.

Participants receive help with:

• Saving toward education, homeownership, or small business goals
• Building or improving credit through credit-builder loans
• Accessing financial services such as savings accounts and financial coaching
• Developing a clear financial plan for long-term success

By addressing these barriers, the program helps individuals break cycles of poverty and build sustainable financial futures.

Measuring Success and Long-Term Impact

The IDA program measures success through both financial outcomes and personal progress. Program staff track several key indicators to evaluate the impact of the program on participants’ financial well-being.

These include:

• Amount of money saved by participants
• Total matching funds awarded
• Completion of savings goals and asset purchases
• Participation in financial education and asset-specific training
• Improved credit profiles and financial habits
• Increased employment income
• Reduction in reliance on public assistance

In addition to these measurable outcomes, participants also share feedback about their experiences through surveys that evaluate improvements in financial stability, long-term asset growth, satisfaction with the program, and overall sense of empowerment.

United Way at Work

Programs like the IDA initiative demonstrate how strategic investments can create lasting financial change for individuals and families. Support from United Way of Reno County helps make it possible for residents to access the tools and resources needed to build financial independence.

By helping participants save for homes, education, and small businesses, the IDA program strengthens not only individual families but the entire Reno County community.

For many participants, the journey toward financial stability begins with a simple step—saving a small amount each month—and grows into something much larger: the opportunity to build assets, achieve personal goals, and create a more secure future.