Trump Account microsite, details announced at launch event

President Donald Trump and Treasury Secretary Scott Bessent detailed further information about Trump Accounts during a launch event for the program Wednesday. A microsite also launched ahead of the program’s July 5 start date. 

America’s Credit Unions has advocated for credit unions to be included as authorized providers of Trump Accounts, and President/CEO Scott Simpson highlighted that “Trump Accounts represent a meaningful step toward helping parents invest in their children’s futures, and credit unions are well positioned to help make that vision a reality.” 

“As not-for-profit, member-owned financial cooperatives, credit unions exist to serve the financial well-being of their members and their families. For generations, credit unions have helped parents save for education, homeownership, and small business dreams, particularly in communities that have historically been left out of traditional financial systems,” said Simpson. “Credit unions have deep experience administering specialized savings products and custodial accounts under strong safety, soundness, and consumer protection standards. They are trusted, locally rooted institutions that already serve more than 145 million Americans and stand ready to help families open, manage, and grow Trump Accounts with care and responsibility." 

A Compliance Blog post provides more information on Trump Account requirements and where credit unions currently fit in. Ongoing engagement with the administration will encourage including credit unions as providers. 

“As implementation moves forward, expanding access to trusted institutions like credit unions will help ensure Trump Accounts deliver on their promise to support children, families, and long-term economic opportunity across the country,” concluded Simpson.