Programs
Individual Development Account
The Individual Development Account (IDA) Program can help you get an education for yourself, your spouse or your child; buy or renovate your own home; start or expand a small business; or save for disability supports.
Participants can save towards the purchase of a house.
How does it work?
The IDA Program provides support for low-income individuals and families to save toward buying or renovating a home, toward their education, their children’s education, or their spouse’s education, toward starting or expanding a small business, or toward disability supports.
The program uses special matched savings accounts and participants’ savings are matched 3:1 by SEED Winnipeg up to a specified limit. Participants have up to two years to save toward their asset goal.
For every $1.00 saved, SEED will match it with $3.00.
Am I eligible?
To qualify, you must…
- live in Winnipeg
- be at or below the program’s income cut-offs (see below)
- have a strong desire to improve your financial future
- meet other criteria specific to your savings goal
- not be a past IDA Program participant
- not live with a current or past IDA Program participant
How do I apply?
To express your interest in attending in information session, fill out our online form, or call us at 927-9947.
The IDA Program is run In partnership with the Alternative Financial Services Coalition (AFSC), Assiniboine Credit Union, the Province of Manitoba, and the United Way of Winnipeg.
Low Income Qualification Chart
| Household Size | Maximum Gross Household Income |
|---|---|
| 1 person | $22,637 |
| 2 persons | $28,182 |
| 3 persons | $34,646 |
| 4 persons | $42,065 |
| 5 persons | $47,710 |
| 6 persons | $53,808 |
| 7 or more persons | $59,907 |
SEED Winnipeg looks at household income to help determine eligibility for our programs. We use Statistics Canada’s Low-Income Cut-Off (LICO) as a guide (we use 100% of LICO). Other factors besides LICO are also considered.
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