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Continues Schwab's legacy of helping families build a better financial future
The Charles Schwab Corporation (Schwab) today announced it will match the U.S. government's one-time $1,000 contribution to eligible newborn children of Schwab's U.S. employees, providing an additional $1,000 per eligible child.
The children's saving account program, known as "Trump Accounts," was signed into law by President Trump and provides 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. The program is designed to help build the long-term financial security for millions of children by encouraging saving and investing from day one.
"For more than half a century, Schwab has stood for increasing access, lowering costs, and empowering millions of families to achieve their financial dreams and goals," said Rick Wurster, Chief Executive Officer of Charles Schwab. "By matching the government's contribution for our employees' children, we're honoring that commitment - helping more families take an early, confident step toward building long-term financial security. We will continue to work with this administration, future administrations, and Congress to do all we can to support getting more Americans invested."
Schwab's contribution reflects its longstanding mission to champion clients' financial goals with integrity and to promote financial literacy and participation in the markets. A key element of getting invested at a young age is increasing financial literacy and providing greater access to educational resources on the fundamentals of saving and investing. Through programs like Moneywise America and partnerships with schools and nonprofits, Schwab is committed to providing trusted financial education to empower the next generation to achieve their financial goals.
For the most current information on the accounts, please visit TrumpAccounts.gov.
About Charles Schwab
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 38.3 million active brokerage accounts, 5.7 million workplace plan participant accounts, 2.2 million banking accounts, and $11.83 trillion in client assets. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, https://www.sipc.org ), and its affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services TM . Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com .
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View source version on businesswire.com: https://www.businesswire.com/news/home/20251223561247/en/
Mayura Hooper
Charles Schwab
Phone: 415-667-1525
