Individual Development Accounts
Cities/Towns Served: Braintree, Milton, Quincy, Weymouth
QCAP no longer offers the CommonCent$ financial literacy workshop. For those interested in financial education workshops, please visit QCAP's News and Events page for dates and times.
Graduates of CommonCent$ may apply for an Individual Development Account (IDA). IDAs are special matched savings accounts in which you save money that can be used to purchase one of three assets; a first home, a small business or a college education.
While you save, you will participate in monthly meetings with other IDAs savers and participate in trainings to help you manage your asset. QCAP staff will also provide you with one-on-one counseling to support you while you work on your goal.
IDA Program Eligibility
- You must live in the program service area (see above).
- Your household must have earned income from a job or self-employment.
- You must complete all 7 sessions of our financial literacy workshop (called CommonCent$) and participate in a one-on-one counseling sessions with QCAP’s Financial Literacy/IDA Coordinator.
- You must save at least $50 per month until your savings goal is reached.
- You must meet income eligibility requirements. Please contact us for more information regarding eligibility for this program.