DreamSavers Overview
Asset Building Savings Program
What would you do if a bank offered you 300% interest on your money? Take them up on it! Dream$avers is an Individual Development Account or IDA program that offers just that for youth and adults. We can help you reach your dream by matching every dollar you save, up to $2,000, with another $3 dollars to help you purchase an approved asset. Imagine how fast even a small monthly deposit will add up when your money is quadrupled! Dream$avers will also provide you with training, goal setting and support to help you achieve your savings goal.
NeighborWorks Umpqua personally provides the Dream$avers program in Douglas, Coos and Curry Counties for all 5 savings goals. Our IDA Specialists look forward to working with you on developing your savings goals.
Eligibility Requirements
You may be eligible if you are:
- 12 and older
- An Oregon resident
- A member of a household that meets the income and net worth limits. Learn more about DreamSavers income and net worth qualification
- Must be interested in saving for one of the five approved savings goals. Learn more about DreamSavers approved savings goals.
- Willing and able to save for a minimum of 6 months to 36 months
- Living within our 12-county service area. Learn more about our DreamSavers service area.
Based on this information, if you believe that you may be eligible and would like to request additional information, please click here.
DreamSavers Success Stories
Dream$avers has made a difference in the lives of many people, helping them go to college, start businesses and buy homes. Since 2003, NeighborWorks Umpqua has helped more than 100 homeowners increase their down payment and reduce their closing costs, assisted 46 small business owners to take a leap into entrepreneurship and made college possible for 129 students. Read DreamSavers Success Stories
DreamSavers Program Funding
The Individual Development Account (IDA) Initiative is supported by funding from the Oregon IDA Tax Credit. The Oregon IDA Tax Credit allows you to support participants like ours and get back a 75% credit on your State tax return. For more information go to http://ida.neighborhoodpartnerships.org or go to http://ida.tnpf.org/ for more information about the IDA program in your part of the state.
Youth 3A’s Savings Program
Youth as young as 10 can get in on the fun too! The Youth 3A’s program offers the opportunity for youth ages 10 to 17 to save for anything athletic, academic, artistic or entrepreneurial. Learn more about savings for youth
