When is the deadline for Matched Savings Program (Individual Development Accounts - IDA)?

Applications are accepted on a rolling basis.

Matched Savings Program (Individual Development Accounts - IDA)

Q: Who is eligible for Matched Savings Program (Individual Development Accounts - IDA)?

Eligible applicants: Higher education at an accredited Oklahoma university, college, or career technology center.

Community Action Agency of Oklahoma City & Oklahoma/Canadian Counties

Foundation Rolling (Quarterly) Economic Services Grants Workforce Development Grants Grants for Education

Funding Amount

Up to $6,000 (participant saves up to $2,000, receives up to $4,000 match)

Deadline

Rolling (quarterly review)

Grant Type

Foundation

Deadline history & next window

Cycle: Rolling — applications accepted year-round
Tracked since: April 2026

Source: the cycle recorded on this listing. Confirm dates with the funder.

Can we apply?

Check your organization against each line. Taken from the listing; confirm with the funder's guidelines.

Eligible organizations

Higher education at an accredited Oklahoma university, college, or career technology center
Geographic Scope: Oklahoma City and Oklahoma/Canadian counties

Other requirements

Expansion of a business (must be profitable, in operation at least 6 months, and have legal business structure)
Must live in Oklahoma City, Oklahoma or Canadian counties
Must be employed or self-employed consistently for at least 6 months
High school students must maintain GPA of 2.5 or better and work part-time or participate in extra-curricular activities

Overview

Matched Savings Program (Individual Development Accounts)

Individual Development Accounts (IDAs) are savings accounts established at participating banks that help working parents and junior/senior high school students build wealth and achieve economic goals.

Award Amount: Participants can deposit up to $2,000 of their own money and receive up to a $4,000 match, for a total of $6,000.

Eligible Uses:

Expansion of a business (must be profitable, in operation at least 6 months, and have legal business structure)
Higher education at an accredited Oklahoma university, college, or career technology center

Geographic Scope: Oklahoma City and Oklahoma/Canadian counties

Eligibility Requirements:

Must live in Oklahoma City, Oklahoma or Canadian counties
Must be employed or self-employed consistently for at least 6 months
High school students must maintain GPA of 2.5 or better and work part-time or participate in extra-curricular activities
Adults working and living in the home must be at or below specified income guidelines
Other qualifications may apply and will be reviewed at first meeting with EDD Staff

Program Details:

Upon enrollment, participant and EDD Staff create a Savings Plan
Participants must save monthly for at least 6 months, with up to 18 months to reach savings goal
Account opened with minimum $50 at participating banks
Participants must attend money management classes covering: short/long-term financial goals, budgeting, credit building, and avoiding financial pitfalls
After choosing savings goal (business, home ownership, or higher education), must attend at least 8 hours of specialized training

How to Apply

Application Process

Contact Economic Development Division at (405) 232-0199, ext. 3207 to schedule orientation
Complete enrollment meeting with EDD Staff to create Savings Plan
Open savings account with at least $50 at participating bank
Attend money management classes covering financial topics
Once savings goal is selected, attend at least 8 hours of training in that area (business, homeownership, or higher education)
Save monthly for minimum 6 months, up to 18 months to reach $2,000 savings goal
Upon reaching savings goal, receive matching funds

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