For every $2,000 you save, OCAP will match with up-to $4,000.

The goal of the Oakland’s City-Wide Families Building Wealth Pilot IDA Program is to provide greater opportunities for Oakland’s low income families/individuals. The objectives of the program are to 1) increase the level of financial education and take up rate for the City of Oakland’s Annual Earned Income Tax Credit (EITC) Campaign; 2) open previously unbanked low and moderate income families savings accounts; and 3) open Individual Development Accounts with a match of $2 for every $1 saved for a total match of up to $4,000 to assist IDA Savers in achieving homeownership in Oakland, acquiring an accredited post-secondary education, or creating/expanding an Oakland based microenterprise opportunity.

Applicants must:

1. Have a social security number
2. Be 18 years of age or older to use of match funds (or 17 at time of enrollment)
3. Be a current resident of Oakland
4. Complete eight hours of City of Oakland Families Building Wealth Financial Education training
5. Have less than $10,000 in net assets, excluding a home and an automobile
6. Earn wages from full- or part-time work
7. Meet one of the two income-limit guidelines outlined below:
   1. 200% Poverty Level Guidelines, or
   2. Eligible for the Earned Income Tax Credit (EITC)

For further information, call Oakland Community Action Partnership (OCAP)
(510) 238-2362