Foster Youth Matched Savings Accounts

Children in foster care are among the most vulnerable in America.

The pandemic has been especially cruel on the older youth in foster care and those who have recently aged out of the system as they face isolation, staggering levels of job loss and food insecurity. More resources are needed to ensure that every child can grow up in a safe, stable and loving family.

To increase the likelihood of self-sufficiency after aging out of the foster care system, United Way works with key nonprofit agencies to enroll foster youth into individual development accounts and provides ongoing case management and financial literacy. For every dollar a foster youth saves, an additional dollar is placed into the account and can be used to purchase specific items such as transportation, education, computers, rent and health insurance. While saving, foster youth take financial literacy classes and learn how to build a savings account, comparison shop and budget.

This program is supported by Women United.

In 2021, Women United created more than 200 matched Individual Development Accounts (IDAs) for local foster youth. Women United members also facilitate life skills workshops (pictured above) to teach youth valuable life skills to prepare them for success in life.