The Individual Development Account (IDA) is an important new tool for combating poverty. It enables people with low incomes to accumulate a substantial financial asset to be invested in a potentially life-changing venture – e.g., returning to school or training, starting a small business, securing adequate housing.

Program participants save a sum of money which is matched by the project’s financial partner, typically at a rate of three dollars for every dollar saved. The IDA model has been used extensively in the US.

Lutherwood CODA’s Opportunity Development Account is one of the first Canadian experiments with the approach. This paper presents the lessons learned by project organizers about the design and implementation of the program: from recruiting participants to supporting their involvement in the project to the delivery of money management training.

Their insights will contribute to a multi-year, multi-site national demonstration project about to be launched by the Self-Employment Development Initiative (SEDI) with financial support from Human Resources Development Canada.