Citigroup announced on Thursday that it will match the U.S. government’s initial $1,000 contribution to the proposed Trump Accounts for eligible employees’ families. The program stems from President Donald Trump’s One Big Beautiful Bill Act and is expected to be implemented on July 4.
Under the plan outlined by the U.S. Treasury, a $1,000 seed deposit would be placed into investment accounts for each child born between 2025 and 2028 who has a valid Social Security number. Citi said its match will replicate that initial $1,000 contribution for qualifying employee families.
Citi’s announcement places it alongside other major U.S. banks that have rolled out comparable match initiatives; Bank of America, Wells Fargo and JPMorgan Chase have all launched similar programs. In addition to the match, the Citi Foundation is committing $5 million to efforts designed to create awareness of the accounts, encourage participation and provide enrollment assistance, particularly targeted at low-income families.
The initiative has received public encouragement from the president, who has urged American businesses to contribute to these family accounts. Political advocates within the president’s Republican Party have framed the measure as part of a response to voters’ affordability concerns ahead of the November midterm elections.
Supporters of the Trump Accounts present them as a tool for long-term wealth accumulation, designed to help children begin building savings early in life. Proponents contend that initiating investments at birth can bolster economic mobility and give future workers greater opportunity to advance along the economic ladder.
However, critics have highlighted a potential downside: when account holders reach eighteen years of age, they would be free to access funds that may have grown into substantial sums. Those critics say that allowing unfettered access at adulthood could carry risks, though the announcement does not change the proposed access terms of the accounts.
Context and operational notes
Citi’s match and the $5 million outreach commitment are framed as complementary actions - one increases upfront capital in beneficiary accounts, the other aims to drive enrollment and participation, with special emphasis on lower-income households. The coordinated actions by multiple large banks suggest a broader banking sector engagement with the Treasury-led program.