Rapid Assets Individual Development Accounts: Program Highlights & Statistics, October 1999–March 31, 2001

This report examines the role of an Individual Development Account (IDA), a type of savings account, in an innovative savings initiative called the Rapid Assets Individual Development Accounts Program. This program is unique because it encourages asset/wealth accumulation by individuals and families that are traditionally thought of as not being capable of saving because of limited economic resources. The IDA concept grew from the theory that an asset-based welfare policy would be more effective in helping households climb out of poverty than direct transfer payments alone.