Search TAP

Click here to find out what's happening at TAP right now!

What is the Total Action for Progress Individual Accounts Program?

The Individual Development Accounts Program (IDA) is a self-sufficiency project that teaches adults how to manage their personal finances and develop savings. The purpose of this program is to help clients to open and develop special savings accounts which will be used to help first-time homebuyers purchase a home, start a small business, or pursue a higher education.

When a participant has completed certain mandatory requirements, IDA will match the clients saving at a ratio of 8-to-1. This means for every one dollar a client saves, IDA will match it with eight dollars.

To participate in this program, clients will set up a custodial account at a local participating bank. Custodial account means that the participant is named as the beneficiary, while Total Action for Progress is named as the owner or custodian of the account.

The goal is for participants to save a minimum of $20 per month for at least six months and attend financial education classes. After they have fulfilled the requirements of the program and reached their savings goal, funds are withdrawn from their accounts and combined with Total Action for Progress 8-to-1 match. The funds are then sent to the appropriate vendors (i.e. mortgage company, supply company or college).

If a participant no longer wishes to continue in our program they can get all of their savings back at any time for any reason, however, the 8-to-1 match will be forfeited.

The following web-sites can help you learn more about IDAs:

What areas does this program serve?

IDA serves the residents of Roanoke City, Roanoke County, Vinton, Salem, Botetourt County and Craig County.

Is there a cost for this program?

There are no costs to approved clientele for this program other than the required monthly deposit to your IDA.

How can I access services?

Before applying for an IDA, we require you to attend an orientation session and a budgeting workshop. Once these requirements have been met, you may submit an application and schedule an interview. After your interview, we will contact you to inform you of the decision of your acceptance into the program.

The Financial Services IDA Program is located at the Dumas Center on 108 Henry Street, in downtown Roanoke, Virginia. Hours of operation are Monday through Friday from 8:30 a.m. to 4:30 p.m. To schedule orientation contact Teffany Henderson at (540) 283-4916. You may also use the Contact link located at the bottom of the page to send her an email.

Your donations are necessary to make this program possible.

Am I eligible for this service?

You must be employed and have a steady income which is verifiable through paystubs and W-2 forms. You also have to make enough money to save each month and continue to pay monthly living expenses, have adequate credit, and have an adjusted gross household income no greater than 200% of Federal Poverty Income Level.

For Federal Poverty Income Levels, please visit:

Community Partnerships and Funding

In 2010, the United Way of Roanoke Valley committed an additional $47,000. The IDA program received a matching commitment from the Department of Health and Human Services Assets for Independence Demonstration Program.

Our partnerships and funding sources also include Roanoke Redevelopment and Housing Authority, Habitat for Humanity in the Roanoke Valley, Money Management International, Inc. (MMI), Roanoke Regional Chamber of Commerce, Roanoke County Department of Social Services, Freedom First Credit Union, Wells Fargo, BB&T, First Citizens Bank, and Valley Bank.