Lincoln Hills Development Corporation
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Individual Development Accounts (IDA)

​View LHDC COVID-19 updates and practices in place to ensure the safety of our communities.
Interested in saving for your future?​

The Individual Development Account is a three-year, matched savings account program to assist individuals in achieving self-sufficiency through financial literacy. For each dollar you save, up to $500 per year, the state of Indiana will match it three-to-one.  
​

The maximum yearly match is $1,500 per year or $4,500 over three years. 
There's also the fast-track option which allows for a match of $800 the first year and $700 the second year. 
 
Once matched, and upon completion of a detailed work plan and financial counseling, program participants may put their savings towards a qualified asset purchase. 
Person putting coins in a jar
Supported through the Indiana Housing & Community Development Authority, funds available on a limited basis to qualified Hoosiers who are interested in improving their financial literacy and participating in a dedicated savings program where their deposited funds are matched.

income limits table
In order to be eligible to participant in the IDA program, you must meet the following criteria:

Be an Indiana resident

Earn income through employment and/or self-employment

Meet current income guidelines

Complete financial training/workshops

Be able to complete the program within three (3) years
​

Must not be a former IDA participant
Piggy bank
Once approved, you will open a savings account with our partner bank. As you make deposits, matching funds are added at a rate of three dollars for every one dollar you save.

The combined funds can then be used for an approved asset purchase, including:

Home purchase (site-built home located in Indiana)

Post-secondary trainings

Job training programs

Owner-occupied rehabilitation (must be participant's primary residence)

Motor vehicle purchase (necessary for employment or post-secondary education)
​

Start or expand a small business (must develop a detailed business plan)​​

The IDA program is available in all counties served for southern Indiana: Crawford, Dubois, Gibson, Harrison, Lawrence, Knox, Orange, Pike, Perry, Spencer, Vanderburgh, and Warrick Counties.
To apply for this program, please fill out the application below, then email it to rschaefer@lhdc.org or mail it to:

​Lincoln Hills Development Corporation
ATTN: IDA
P.O. Box 336
Tell City, IN 47586
IDA Application
If you are interested in LHDC Individual Development Account services in any county listed above, please contact:

​Rachel Schaefer, Perry County Resource Coordinator, at 1-800-467-1435 ext. 255 or via email at rschaefer@lhdc.org.

OR


Amanda McDaniel, Resource Coordination Program Manager, at 1-800-467-1435 ext. 246 or via email at amcdaniel@lhdc.org.
Call for More Information
Email for More Information
​Lincoln Hills Development Corporation
302 Main Street
P.O. Box 336
Tell City, IN 47586
Phone: 812-547-3435 or 1-800-467-1435
Email: info@lhdc.org
Monday – Thursday, 8:00 a.m. to 4:00 p.m.
Equal Housing Opportunity
Wheelchair Picture
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LHDC provides services to clients regardless of race, sex, color, religion, age, ancestry, national origin, genetics, veteran status, sexual orientation, or disability.
​The agency is an Equal Opportunity Provider and Employer. 
Copyright © 2021 Lincoln Hills Development Corporation.
Report waste, fraud or abuse.
  • Home
  • About
    • Success Stories
    • News & Posts
    • Events & Trips
    • Board of Directors & Management Team
    • Facility Locations
    • Helpful Links and Resources >
      • Perry County Substance Abuse Committee Grant Application
    • Frequently Asked Questions (FAQ)
  • All Programs
    • Services by County
    • Covering Kids and Families
    • Energy Assistance Program (EAP)
    • Emergency Food & Shelter Program
    • Head Start Birth-5
    • Housing Counseling and Homeownership
    • Housing Program >
      • Crawford County Housing for the Elderly
      • Hartford Place Apartments
      • Ohio View Apartments
      • Marengo Housing for the Elderly
      • Village Apartments of Marengo
      • Ferdinand Housing
      • Lincoln Manor of Holland
      • Lincoln Village Apartments
      • Village of Corydon
      • Milltown Housing
      • Cotton Mill Apartments
      • Country Place Apartments
      • Fulton Manor Apartments
      • Lincoln Manor of Troy
      • Tell City Housing for the Elderly
      • Chrisney Community Apartments
      • Santa's Community Apartments
      • St. Meinrad Housing
      • Chandler Heights Apartments
    • Individual Development Accounts
    • Perry County Housing Choice Voucher Program
    • Resource Coordination
    • Retired Senior Volunteer Program (RSVP)
    • Section 8 Housing Choice Voucher Program
    • Senior Farmers' Market Nutrition Program
    • Weatherization Program
  • Contact
  • Career
  • Ways to Help
    • Donate