EduSaveDC Aims to Improve the Finances of Ward 8 Families

This story is highlighted in Capital One’s 2019-2020 Corporate Social Responsibility report. To view the full report, click here.

Washington, D.C. resident Jessica works long hours to build up her daughter’s college savings account. As a resident of Ward 8, where the median income stands at less than the District of Columbia as a whole, she says that the children in her neighborhood seem “forgotten.” 

Families like Jessica’s are the ones who the Capital Area Asset Builders (CAAB) nonprofit had in mind when it created EduSaveDC, a program designed to help families save for college. A cross-functional team at Capital One created the program and worked directly with CAAB on the initial development of the program concept and marketing strategy. Capital One also provided the matching funds of $150,000 for up to 110 families.

Elementary and middle school-aged children from low-to-moderate income families in Ward 8 can get $5 for every $1 they save toward higher education expenses. The program is the collaborative brainchild between Capital One, CAAB, and the 11th Street Bridge Park.

Showing children they’re not forgotten “makes a huge impact on their lives, education and future,” says Jessica. “I’m thankful for what this program is doing for them.”

Capital One is on a mission to change banking for good. To be authentic and impactful, our goals for our customers, associates and our communities must be clearly linked. Our 2019-2020 Corporate Social Responsibility Report illustrates this commitment. Learn more about Capital One’s commitments, here.