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. 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 DC median income ($86,650 for 2024). For more information, email [email protected].
How the Program Works
DC Opportunity Accounts works as follows: Qualified residents make regular monthly deposits of no less than $25 in an escrow savings account for a minimum of six months and maximum of 18 months. DISB matches the deposits 4:1. Participants who save $1,500 will get a match of $6,000, growing their contribution to $7,500. In addition, participants must participate in financial literacy and asset-specific training prior to receiving a match-savings withdrawal. For example, a person wanting to purchase their first home will be required to qualify for and participate in a first-time home buyer’s program.
Are You Eligible?
Eligible participants must meet the following requirements:
- You must be a current DC resident
- Have a source of earned income
- Have less than $10,000 in net assets, not including your car or home. Other assets include money you have in a bank account, retirement savings, bonds, stocks or valuable things you own. To estimate your net assets, add up your assets and then subtract any debts you have to credit card companies or other lenders. Do not subtract your mortgage or car loan.
- Your household’s annual gross income—your income before paying taxes—is at or below the limits based on your household size. You must provide the names of each person in your household who is above the age of 18 and proof of income for each person:
| Household Size | Maximum Household Income from all Sources |
| 1 | $86,650 |
| 2 | $99,000 |
| 3 | $111,400 |
| 4 | $123,750 |
| 5 | $133,650 |
| 6 | $143,550 |
Household income includes salaries, wages, self-employment income, social security benefits, supplemental security income, social security disability, unemployment benefits, alimony and child support payments, veterans’ benefits, and pension and retirement benefits.
Acceptable proofs of income include tax returns, pay stubs, bank statements, pension statements, IRS form W-2s or other wage statements, IRS form 1099s, or documents related to unemployment, and disability or other government assistance programs.
Successful Participation
To date, 709 residents have opened accounts. Of these participants, 359 have received the total match amount of $7,500. In fiscal year 2023, 124 residents received their $7,500 in matched savings.
How to Apply
To apply for the DC Opportunity Accounts Program, email [email protected]
Administration and Funding
The DC Opportunity Accounts program is managed by the DC Department of Insurance, Securities and Banking (DISB), and administered by its contractor, Greater Washington Community Foundation (GWCF). The program has received support from the A. James & Alice B. Clark Foundation and Wells Fargo Bank and is currently funded by DISB and the American Rescue Plan Act (ARPA).
Opportunity Accounts Program FAQs
Q1. What is the status of the DISB Opportunity Accounts Program?
A1. DISB has contracted with the Greater Washington Community Foundation (GWCF) to act as the new program administrator. The Opportunity Account Program has fully restarted as of April 30, 2025. Capital Area Asset Builders is no longer affiliated with the program.
Q2. How do I access my past account information?
A2. Account information from the past vendor is in the process of being transferred via the program platform Vista Share. For existing participants to see past information, you will need to set up a new account in the portal. All participants of record should have received an invitation to the email account on file to set up a new account by April 30, 2025. Please check your spam inbox, if you haven’t received an invitation.
Q3. I received notice that my bank account is no longer active at Citibank. Is there a new bank as a result of the transition?
A3. As part of the transition to the new program administrator, all participants’ accounts have been transferred from Citibank to United Bank, which has several locations throughout the District. Additional information about United Bank can be found on its website: bankwithunited.com.
Q4. How do I access my account balance and transactions?
A4. The Vista Share platform that allows you to see your account balances and transactions is now available. Vista Share will send an invitation to your email address of record inviting you to set up a new account on the platform. Once you have received the link, you should create a new username and password to access your account information. Your previous username and password are no longer valid. We encourage you to use the Vista Share platform to check your account information rather than contacting United Bank. Please contact [email protected] if you experience trouble logging into your account.
Q5. I am ready to resume making deposits into my account. What is the process?
A5. You should resume your regular deposits as soon as possible so that you can reach your approved savings goal. Deposits will resume for account holders once updated program documents have been received and verified by Greater Washington Community Foundation. Upon recertification, you should resume your regular deposits as soon as possible so that you can reach your approved savings goal.
Q6. Why do I need to recertify if I was already a participant before the program transitioned?
A.6 As part of the transition to the new program administrator, each participant is required to recertify to be eligible to continue to participate in the program. You are required to provide the following information to GWCF no later than June 1, 2025:
- A copy of your current District of Columbia drivers’ license or non-drivers’ license identification.
- A copy of at least two of the following documents that establish your residency in the District of Columbia. Acceptable documents include a signed lease agreement, recent utility or telephone bill, deed or mortgage document, voter registration card, vehicle registration or paystub.
- Proof of household income. To be eligible to participate in the program, your household income cannot exceed 85% of the median household income, which was $94,350 in 2023. You must provide the names of each person in your household who is above the age of 18 and proof of income for each person. You must include all forms of income received by each person over 18 who resides in your home. Household income includes salaries, wages, self-employment income, social security benefits, supplemental security income, social security disability, unemployment benefits, alimony and child support payments, veterans’ benefits, and pension and retirement benefits.
- Acceptable proofs of income include tax returns, pay stubs, bank statements, pension statements, IRS form W-2s or other wage statements, IRS form 1099s, or documents related to unemployment, and disability or other government assistance programs.
- Please submit copies of the required documents by email to [email protected]. Failure to provide the documents by the June 1, 2025, deadline may result in decertification. If you are decertified, the funds in your savings account will be returned to you and you will be ineligible to receive any matching funds from the program. In addition, you will not be permitted to participate in the program in the future.
Q7. I need to complete the mandatory financial education training. When will classes be available?
A7. The financial education training is anticipated to resume this summer. All current participants will receive a notice of financial education training start date.
Q8. I am currently on the wait list. When will I be able to apply?
A8. 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.
Q9. Can my name be added to the wait list now that the program has restarted?
A9. Yes. Interested participants can send an email to OpportunityAccounts@the communityfoundation.org to express interest in participating in the Opportunity Account Program.
Q10. Is there anyone at Greater Washington Community Foundation that I can speak to if I have additional questions about my account?
A10. Yes. We encourage you to email your questions to OpportunityAccounts@the communityfoundation.org and someone will contact you within 24 hours or the next business day. You may also call the foundation at 202.955.5890.