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Prosperity Savings Accounts

Multiply Your Savings
Prosperity Accounts make it possible for individuals to build the financial assets they need to achieve the American dream. United Way offers Prosperity Accounts that match the deposits of hard-working low and moderate income families. For every $1 saved in a Prosperity Account, savers receive a $3 match up to $10,800 in matched savings, for a total of $14,400 to invest for an asset-building purpose such as; post-secondary education or job training, home purchase, or capitalize a small business. There is also an additional option to save using a Vehicle Prosperity Account. For every $1 saved in a Vehicle Prosperity Account, savers receive a $1 savings match up to $3,600 in matched savings, for every $1 saved, for a total of $7,200 to invest in a vehicle.

 

Financial Education Training
Financial education is a key component of the program. Savers must complete approved financial education classes prior to receiving the matched funds. In addition to earning match dollars, savers learn critical life skills necessary to better manage their spending and receive additional training before purchasing an asset.

 

Expanding Financial Capability
We're not only investing in individuals, we're investing in the future of Maryland. Prosperity Accounts operate similarly to other types of "matched" savings plans, such as 401(k) retirement accounts. Assets - such as a home, college education, small business, or vehicles - enable families with modest means to enter the economic mainstream.

Do You Qualify? Click HERE to download the Pre-qualification Survey.

 

Click HERE for more information

PROSPERITY SAVINGS ACCOUNTS
WHAT IS A PROSPERITY ACCOUNT?
HOW DO PROSPERITY ACCOUNTS WORK?
FREQUENTLY ASKED QUESTIONS
DO I QUALIFY?
APPLICATION AND DOCUMENTATION
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