DC Opportunity Accounts Program
The DC Opportunity Accounts program is a 4:1 matched savings program that helps qualified District residents save up to $7,500. The funds can be used to help pay for a variety of expenses, including education, first-time home purchases, small business development and retirement. The DC Opportunity Accounts program is managed by the District of Columbia Department of Insurance, Securities and Banking (DISB). Qualified residents make regular deposits of up to $1,500 in a savings account. Participants must be District residents, have earned income, have less than $10,000 in net assets (excluding primary residence and one vehicle), and maximum household income that does not exceed 85% of the District of Columbia median income ($86,464 for 2024). For more information, email [email protected].
The Opportunity Accounts Program is Temporarily Inactive
Opportunity Accounts Program FAQs
Q1. What is the status of DISB’s Opportunity Accounts Program?
A1. DISB is transitioning the administration of the Opportunity Accounts program from Capital Area Asset Builders to a new program administrator. We anticipate the new program administrator will be available by late March 2025.
Q2. I am currently saving towards my goal. What should I do during the transition period?
A2. We encourage you to continue saving each month. Unfortunately, you cannot deposit funds into your account during the transition period. You will be able to make deposits as soon as the program reopens.
Q3. I am making direct deposits into my account. Will this continue during the transition?
A3. No. Automated deposits should be stopped during the transition. You will be able to resume automated deposits when the program reopens.
Q4. I am currently saving and would like to check my account balance. Can I do that during the transition period?
A4. Unfortunately, you cannot check your account balance during the transition period. You will be able to check your account balance using the Vista Share platform as soon as the program reopens.
Q5. I have reached my savings goal and am ready to receive matching funds from the program. How will the transition affect me?
A5. Eligible participants will not receive matching funds during the transition period. Matching funds will be provided for eligible account holders when the program reopens.
Q6. I need to complete the mandatory financial education training. Will I be able to complete the financial education training during the transition period?
A6. No. The financial education training will resume when the program reopens.
Q7. I am currently on the wait list. How will the transition affect me?
A7. You will remain on the wait list during the transition period. The new program administrator will contact you if and when a decision is made to enroll you in the program. Future enrollment is also contingent upon the availability of funds.
Q8. Can my name be added to the wait list during the transition period?
A8. No. Interested participants will not be added to the wait list during the transition period.
Q9. Is there anyone at DISB that I can speak to if I have additional questions about the program during the transition period?
A9. Yes. We encourage you to email your questions to [email protected] and someone will contact you within 24 hours or the next business day. If you are unable to email, you may call DISB on 202.727.8000 and ask to speak to Jeysha Rhodes or Philip Edmonds in the Compliance & Analysis Division.