History

In 1996, a group of financial inclusion advocates came together to implement a new asset-building strategy, Individual Development Accounts (IDAs). IDAs are an incentivized match savings plan that encourages people with low incomes to save money with a 3 to 1 or 4 to 1 match on their savings goals. The advocates created an innovative new tool with support from the North Carolina General Assembly, state agencies, and grant funding. The IDA and Asset Building Collaborative formed one of the nation’s largest IDA programs with nearly 700 active accounts at 25 sites state-wide.

The Collaborative’s prominence in its field comes of the history and breadth of its operation. Our experience managing IDA programs and providing direct financial services to clients – while also providing technical assistance to leaders in the field and bringing them together around trending financial inclusion topics through the NC Assets Alliance – makes The Collaborative unique in the financial capability and asset building community.