IDA Savings

Opportunity Fund's IDA Savings Program is one of the largest in the nation and, as a leader in the field, we've brought a number of innovations to the savings and asset-building field. Over 3,000 clients have enrolled in our IDA Savings Program, completing more than 36,000 hours of financial education.

Results to Date

Financial education

Over 3,000 clients have enrolled in our IDA Savings Program, completing more than 36,000 hours of financial education.

"I learned how to set a budget and now I'm in control."
"I no longer rely on credit cards. I didn't think it was possible to save before."
"I know how to read my credit report, and it's gone up 20 points already!"

Building a habit of saving

Saving for Education

  + Over half (53%) of our clients choose to save toward their education
  + 95% of clients who save for their education complete their degree.
  + Clients have saved and invested over $4.6 million in college education and professional training.

Saving for Citizenship

  + 24% of our clients choose to save toward becoming a US citizen.
  + To date, clients have saved and invested $150,000 to become a U.S. citizen.

Saving for Microenterprise

  + 17% of our clients save and invest in their own small business.
  + These entrepreneurs have saved and invested over $1.2 million in their microenterprises.
  + Two years after completing our program, 80% of clients still own their business or sold it for a profit.

Saving for Homeownership

  + Six percent of our clients save and invest in a home for their family.
  + Though few of our low-income clients have achieved this dream, our clients have invested $1.2 million in home purchases and improvements in the Bay Area.
  + 100% of clients who purchased a home still owned the home two years after copleting our program.

Spotlight:
EVALUATION RESEARCH

Families Saving and Building Hope: A Two Year Longitudinal Study

In 2007, Opportunity Fund released a joint study with the Silicon Valley Community Foundation that tracked our IDA clients two years after they graduated from our savings program. The results were impressive.

The program’s clients have retained their assets and their healthy financial habits for at least two years after completing the program. They are still in their homes, they continue to save, some have made other investments and many are teaching their children these same good practices.

Of those surveyed, 75% of program graduates continue to save today — saving an average of 10% of their annual income. Equally exciting, 70% of those savers had opened savings accounts for their children, pointing towards a generational change in financial knowledge.