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The company will match federal contributions for eligible U.S. employees' children, strengthening financial access for families
- BNY (NYSE: BK) today announced its participation in the U.S. government's investment initiative for children, continuing the company's long history of expanding financial access and opportunity for employees and their families. As one of the first financial services companies to join the program, BNY will match the federal government's $1,000 contribution for eligible newborns of its eligible U.S. employees, doubling the investment in each child's future.
BNY's participation builds on its broader efforts to strengthen employees' financial opportunity, including BK Shares equity grants, new student loan matching, enhanced 401(k) features and expanded support for saving and investing at every career stage.
"For more than two centuries, BNY has supported our nation's financial ecosystem and the people who power it, including our own employees. This initiative advances that mission in a meaningful way," said Robin Vince, Chief Executive Officer, BNY. "By matching the government's contribution, we're helping our employees give their children a head start toward a stronger financial future."
The children's savings account program, passed by Congress and signed into law by President Trump in the One Big Beautiful Bill Act, and provides for a $1,000 pilot contribution from the U.S. Treasury into a tax-advantaged account for eligible children born in the U.S. between 2025 and 2028.
BNY's match of the pilot contribution will provide an additional $1,000 per eligible child once the account is opened and verified, helping families start saving from day one.
"We want every family to have the chance to build a strong foundation," said Shannon Hobbs, Chief People Officer, BNY. "BNY is proud to match the government's investment in these children's futures for our eligible employees. This benefit reinforces our dedication to helping our colleagues and their families access financial opportunities from the very beginning."
About BNY
BNY is a global financial services company that helps make money work for the world — managing it, moving it and keeping it safe. For more than 240 years BNY has partnered alongside clients, putting its expertise and platforms to work to help them achieve their ambitions. Today BNY helps over 90% of Fortune 100 companies and nearly all the top 100 banks globally access the money they need. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of September 30, 2025, BNY oversees $57.8 trillion in assets under custody and/or administration and $2.1 trillion in assets under management.
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in New York City, BNY has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow on LinkedIn or visit the BNY Newsroom for the latest company news.
Media Contact
Ryan Wells
ryanw@bny.com
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SOURCE BNY
