Umpqua Community Development Corporation
Serving Douglas, Coos, and Curry Counties in Southwest Oregon
A Nonprofit Organization

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Dream$avers (IDA Program)

Earn 300% interest on your savings!!!

Dream$avers is an individual development account (IDA) program that encourages adults and youth to build assets. This program encompasses 3 important branches of development: education, savings and purchase of an asset.  It is available to residents of Douglas, Coos, Curry, Jackson, Josephine, Klamath and Lake counties in Southwest Oregon whose annual household income is at or below 80% of their county's median household income.

Savings goals must align with one of the following savings tracts:

  • Down payment, closings costs or required repairs by a lender for homeownership.

  • Small business start up or expansion.

  • Post secondary education or job training.

  • Purchase of equipment, technology or specialized training required to become competitive in obtaining or maintaining employment.

  • Improvements, repairs, or modifications necessary to make or keep account holder’s primary dwelling habitable, accessible or visitable for themselves or a household member.

Participants save up to $2000 over the course of 1 to 3 years.  For every dollar saved into their account, up to $2000, Dream$avers matches it with 3 dollars.  This means that a participant can save $2000 and receive $6000 in matched funds. For those participants who need to save from 6 to 12 months, the maximum amount they can save is $1000 and the maximum match is $3000. The matched funds are reserved in a separate account and are not deposited into the participants account.   

For more information, contact Rebekah Bassett, Brenda Lewis, or Mike Charette, at 541 673-4909.

Application

For Coos, Curry, Douglas, Josephine, Klamath and Lake counties, the maximum household income cannot exceed the higher of the County or State Median Family Income (MFI):

Household size 1 2 3 4 5 6 7 8
80% County MFI $27,050 $30,900 $34,800 $38,650 $41,750 $44,850 $47,950 $51,000
80% State MFI $33,000 $37,700 $42,400 $47,100 $50,900 $54,650 $58,450 $62,200

For Jackson County, the maximum household income cannot exceed the higher of the County or State Median Family Income:

Household size 1 2 3 4 5 6 7 8
80% County MFI $29,600 $33,850 $38,050 $42,300 $45,700 $49,050 $52,450 $55,580
80% State MFI $33,000 $37,700 $42,400 $47,100 $50,900 $54,650 58,450 62,200

The IDA initiative is paid for by Oregon state tax credits that are purchased by Oregon residents. Oregon law prohibits using the funds for any purpose other than the previously mentioned savings tracts.

Meet some of our IDA Super Stars

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