Chime will contribute $250 when a Trump Account is opened for any child of a Chime employee, building on its early commitment to match the federal government’s $1,000 seed
Chime will bring its Compound Combine™ financial education series to Texas in 2027, following events in Jersey City, Charlotte, and Pittsburgh this year
SAN FRANCISCO--(BUSINESS WIRE)--
Chime® (Nasdaq: CHYM) today announced an expanded commitment to Trump Accounts that will help all Chime employees invest in their children’s futures and more Americans take advantage of this new wealth-building opportunity. The announcement builds on Chime’s broader nationwide efforts to drive awareness and participation in the program.
Chime was among the first companies to commit to matching the U.S. Treasury’s $1,000 seed contribution dollar-for-dollar for eligible employees’ children born between January 1, 2025, and December 31, 2028.Chime will now extend the benefit across its employee base by contributing $250 to all other children with a Trump Account.
“Every child deserves the opportunity to benefit from long-term investing and the power of compounding growth,” said Chris Britt, CEO and Co-founder of Chime. “When families prosper, so does our country. That's why we are contributing to the Trump Account of every child of a Chime employee and why we are working in communities across the country to help more families start investing in their children’s futures.”
Chime also announced that Compound Combinewill come to Texas in 2027, continuing its national series of community events created with Invest America to make the concepts of investing, saving, and compound growth tangible and fun for families.
“Trump Accounts give every child a stake in the American Dream and a jumpstart on building wealth through compound growth,” said U.S. Senator Ted Cruz of Texas. “Chime's leadership is helping more families take advantage of this opportunity, and I'm proud they're expanding their commitment and bringing the Compound Combine to Texas. Every child will soon experience the miracle of compound growth, and I look forward to seeing this effort reach families across our state.”
Taking Compound Combine Across the Country
Launched in Jersey Cityearlier this year, Compound Combine turns financial education into an interactive experience, using athletic combine-style drills to teach lessons around saving consistently, spending wisely, and investing early. Chime and Invest America also help families learn about Trump Accounts and get enrolled on the spot.
Hundreds of local youth and families participated in the inaugural Jersey City event, where Chime and Invest America were joined by the U.S. Department of the Treasury and star professional football players. The series then traveled toCharlotte during one of the biggest weeks in soccer, where families took part in soccer-inspired drills designed to teach financial concepts, alongside U.S. soccer legend Landon Donovan.
The next Compound Combine will take place in Pittsburgh on October 11, 2026, followed by a newly announced Texas event in 2027.
“Chime has been an important partner in helping turn the promise of Trump Accounts into action for families,” said Brad Gerstner, founder of Invest America. “By expanding its financial commitment and bringing Compound Combine to Texas, Chime is showing the kind of leadership that can help more families start investing early and understand the power of compounding.”
Compound Combine is part of Chime’s broader effort to make wealth building more accessible. Chime has also partnered with the Council for Economic Education to bring financial education resources and educator support into classrooms as it works toward its goal of bringing financial education to 10 million people by 2027.
Chime (Nasdaq: CHYM) is a financial technology company founded on the premise that core banking services should be helpful, easy, and free. We offer a broad range of low-cost banking and payments products that address the most critical financial needs of everyday people. Our member-aligned business model has helped millions of people to unlock financial progress™. Member deposits are FDIC-insured through The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, up to applicable limits*.
ABOUT TRUMP ACCOUNTS
The Working Families Tax Cuts allows parents, guardians, and other authorized individuals to establish a new type of individual retirement account for their children, called Trump Accounts. The account is for a child who has not turned age 18 before the end of the calendar year in which the election is made and has a valid Social Security number.
The account features a pilot program contribution of $1,000 for children born between Jan. 1, 2025, and Dec. 31, 2028, and who are U.S. citizens with a valid Social Security number.
Parents, guardians, and other authorized individuals can elect to open an account at any time by submitting IRS Form 4547, Trump Account Election(s), including enrollment in the pilot program.
Visit TrumpAccounts.gov for the latest information about how to do so.
ABOUT INVEST AMERICA
Invest America works to reduce income and opportunity gaps by helping families understand investing and take part in the financial system. Our goal is to make investing simple, accessible, and useful for families across the country.
*Chime is not FDIC-insured. The Bancorp Bank, N.A. and Stride Bank, N.A. are the FDIC-insured members. Deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply. FDIC deposit insurance limit is $250,000 per depositor, per insured bank, per ownership category.
A tax-advantaged retirement account owned by an individual that holds investments such as stocks, bonds, mutual funds or cash and is governed by rules about how much can be contributed and when money can be withdrawn. It matters to investors because the account’s specific tax rules and withdrawal limits affect how savings grow and when taxes are paid; think of it as a labeled box for retirement money that comes with special tax treatment and rules about when you can open it.
fdic-insuredregulatory
"FDIC-insured" means that a bank or savings institution is protected by the Federal Deposit Insurance Corporation, which guarantees that depositors will get back their money up to a certain limit if the bank fails. This insurance provides peace of mind, similar to a safety net, ensuring that your savings are protected even if the bank encounters financial trouble. It helps build trust and confidence for people saving or investing their money in banks.
pass-through deposit insurance coverageregulatory
Pass-through deposit insurance coverage is insurance that treats funds held by an intermediary—such as a broker, custodian, or trustee—for multiple customers as separately insured for each underlying owner. Like an umbrella that passes protection down to each person underneath, it lets regulators insure each beneficiary’s share rather than the intermediary’s pooled balance. This matters to investors because it affects how much of their cash is protected from bank failure and how safe custodial or sweep arrangements appear on a balance-sheet level.
