The DC Opportunity Accounts (DCOA) program is a 4:1 matched savings initiative designed to help income-eligible DC residents build financial stability and save toward their long-term goals—whether that’s purchasing a home, continuing education, or launching a business.
Launched in 2019, DCOA is managed and funded through the DC Department of Insurance, Securities, and Banking (DISB) and has received support through private and corporate partners such as the A. James & Alice B. Clark Foundation, Wells Fargo, and others.
Recognizing the need to provide strong pathways to economic mobility for DC residents, The Greater Washington Community Foundation became the primary administrator for this important initiative in May 2025.
how do Opportunity Accounts work?
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 to 1 - meaning participants who save $1,500 will get a match of $6,000 towards a qualifying savings goal, growing their contribution to $7,500.
Before withdrawing their match-savings, participants participate in financial literacy and asset-specific training to help them best utilize that asset to support their goals (ex. those who wish to buy a house are required to qualify for and participate in a first-time home buyer’s program prior to withdrawing the funds.)
Eligibility Requirements
DCOA Participants must be current DC Residents, have a source of earned income, and less than $10,000 in net assets (excluding (1) primary residence, (1) primary vehicle, and 529 savings program). These could include money in your bank account, retirement savings, bonds, stocks, or other valuable assets.
Participants must also live in a household where the annual gross income does not exceed 85% of the DC median income and demonstrate a clear savings goal. Residents who are enrolled in TANF or SNAP are automatically eligible. Click here for more information!
To date, more than 700 residents have opened accounts - with more than half of them receiving the total match amount of $7,500.
Future enrollment in the program is contingent upon availability of funds. A waitlist is available for eligible applicants. For more information, email [email protected]
For Current Participants
As part of the program’s transition to The Community Foundation, 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 The Community Foundation even if you plan to withdraw from the program.
Proof of identification (one document)
Current government issued: driver license OR passport OR state issued ID card
Tribal ID card
Proof of Address (one document)
Utility bill such as water or electric (dated within the last 3 months)
Current government issued driver license or ID card if it lists your current address
Current lease agreement, mortgage statement (dated within the last 3 months) or property title
First page of bank statement
Proof of Earned Income (documentation must be submitted for each household member who shares expenses)
Tax return from 2023 or 2024
Two months of pay stubs (one pay stub if paid once a month; four pay stubs if paid every other week)
If you are self-employed:
Business’ bank statement for two months (dated within the last 3 months)
Profit and loss statement from accounting software such as QuickBooks for the last fiscal year
Two months of record of payment through a gig economy platform such as Uber, Lyft, DoorDash, etc. (Record of payments and/or earnings from the gig economy platform for two consecutive months are required. Screenshots will be accepted.)
Day Laborer: timesheet(s) for two calendar months within the last three months; must be signed by employer
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.