Virginia Individual Development Accounts (VIDA) Program

What is special about the VIDA program?
The Virginia Individual Development Accounts (VIDA) program is a special savings account program that triples your savings: VIDA matches $2 for every $1 you save in a VIDA account. Matching funds are limited to $4,000 per participant with a maximum of two participants per household. The combined savings can be used to:
Buy your first house
Start a business
Save for you, your child’s, or your spouse’s education (vocational training, community college, undergraduate or graduate degrees)


1. Am I Eligible?The VIDA accounts are available on a first come, first served basis for all eligible, Virginia residents. In order to be eligible, you must:
Be a U.S. citizen or legal alien 18 years of age or older residing within Virginia;
Be employed;
If saving for a business or education, have a dependent child under the age of 18 living in the household with their parent or guardian;
Meet income requirements;
Save a minimum of $25 per month or more; and
Be accepted into the program


http://www.dhcd.virginia.gov/HomelessnesstoHomeownership/Virginia_Individual_Development_Account_VIDA.htm