CAAB

Investing in People, Strengthening Communities

DC Opportunity Accounts Program

The DC Opportunity Accounts Program is an innovative matched savings program to assist low- to moderate-income DC residents to save money for buying a home, launching or expanding a small business, paying for post-secondary education as well as other key long-term asset building initiatives.

DC Opportunity Accounts Program

The DC Opportunity Accounts Program is an innovative matched savings program to assist low- to moderate-income DC residents to save money for buying a home in DC, launching a small business in DC, paying for post-secondary education as well as other key long-term asset building initiatives.

The DC Opportunity Accounts Program is supported by the DC Department of Insurance, Securities and Banking, A. James and Alice B. Clark Foundation and Wells Fargo Bank.

Capital Area Asset Builders (CAAB) is the administrator of the DC Opportunity Accounts Program.


Information on the DC Opportunity Accounts Program

  • What is a DC Opportunity Account? It's a type of savings account owned by you and CAAB at a bank in Washington, DC. 

  • What is the DC Opportunity Accounts Program? Under this innovative and unique matched savings program for income-eligible District of Columbia residents, CAAB will maintain a DC Opportunity Account in your name and for every $1 you save (up to $1,500), we will deposit $4 (up to $6,000). 

  • How much money do you have to save? You can save up to $1,500 to qualify for the maximum $6,000 match. There are no strings attached!

  • How much money will you receive at the end of your involvement with the DC Opportunity Account Program? If you save up to $1,500, then you will receive $6,000 from the program. 

  • What's the minimum time to reach your savings goal and use and benefit from the match? You can request use of your earned match plus your savings as soon as three (3) months from the point of opening your DC Opportunity Account.

  • How much time do you have to save the maximum $1,500? You have up to 18 months from the point of opening your DC Opportunity Account, to achieve the savings goal of $1,500 and earn the maximum $6,000 match. 

  • What can the DC Opportunity Account money be used for? Upon completion of the program, your savings plus match can be used for any of the following eight (8) asset purchases: 
    • To purchase a primary residence in DC; 
    • To launch a small business in DC;
    • To pay for post-secondary educational costs;
    • To pay for job training costs;
    • To pay for major repairs or improvements to a primary residence;
    • To pay for costs associated with a medical emergency as long as those costs are not covered by insurance;
    • To fund an Individual Retirement Account; or,
    • To pay for costs and expenses incurred during retirement.
  • What are the requirements to participate? You have to be a current resident of the District of Columbia, your household income must not exceed 80% of the Median Household Income for Washington, DC (please see the table below); you must be interested in saving for the benefit of your family's success.

Household
Size

Maximum
Household
Income
1 $54,250
2 $62,000
3 $69,750
4 $77,450
5 $83,650
6 $89,850
7 $96,050
8 or more $102,250

  • Are there additional services provided as part of the DC Opportunity Accounts Program? In addition to the maximum $6,000 match you can qualify for, you will receive access to a free financial education class and information on free credit counseling, free financial coaching, and free tax preparation services.  
  • When can you enroll in DC Opportunity Accounts Program? Income-eligible District of Columbia residents will be enrolled in the program until all available spaces are taken.  
  • Is there a cost to enroll and/or benefit from DC Opportunity Accounts Program? No, you will not be charged anything to enroll and/or participate in the program. 
  • Who can open a DC Opportunity Account? Income-eligible District of Columbia residents .

  • Where Can I Get More Information on the DC Opportunity Accounts Program and/or apply for a DC Opportunity Account? Please contact CAAB via email at

About Capital Area Asset Builders

Capital Area Asset Builders (CAAB) is a non-profit organization whose mission is to create opportunities for low- and moderate-income individuals in the greater DC region to build financial security, savings, and wealth for the future.

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How to give

Now, more than ever, non-profits like Capital Area Asset Builders (CAAB) need your help. Please support CAAB as we continue to help DC residents manage and/or improve their financial situation during these difficult times. If you can't afford to give a monetary gift, please visit our Amazon Wish List where you can choose from a variety of items that CAAB needs in order to better serve our community.

or send a check or money order to
Capital Area Asset Builders (CAAB)
c/o Joseph Leitmann-Santa Cruz, Director of External Relations
1100 H Street NW, Suite 200
Washington, DC 20005