Child savings accounts: Advancing the field to better serve traditionally underserved consumers
Child savings account programs have been implemented or are in the process of being implemented in a number of states and communities around the country. These programs build on the idea that asset accumulation is important to consumers who are attempting to achieve long-term financial goals. To advance inclusion of traditionally underserved consumers, the Bureau convened a Child Savings Account Forum in Washington, D.C., in May of 2018. Leading researchers, child savings program managers, funders and policy makers from across the country came together to identify, document, and advance promising and proven practices that can increase child savings opportunities for more low-income and low-wealth families, and that can be taken to scale. This report summarizes the key conversations, insights, principles and next steps identified by participants at the 2018 Child Savings Account Forum.