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American Dream Match Fund: Silicon Valley

American Dream Match Funds: Silicon Valley will help 100 working families in the region to start saving and earning matching funds to attend college or start small businesses. To this end, American Dream Match Funds has chosen to partner with Opportunity Fund, a San Jose-based non-profit financial institution and national leader in the matched savings field. Opportunity Fund will leverage dollars raised by American Dream Match Funds: Silicon Valley to provide financial education and matched savings accounts for Silicon Valley families on the margins of economic security.

Local Partner: Opportunity Fund

Opportunity Fund is a community development financial institution based in San Jose who’s driving mission is simple: “…everyone should have a chance to build a dignified life, regardless of their economic background.” Opportunity Fund serves families in Silicon Valley with the following demographic characteristics:

• Average annual household income for savers: $26,000
• 72% female
• 40% single parents
• 40% Latino, 34% Asian/Pacific Islander, 9% African American, 17% Other Ethnicities

Performance of Local Matched Savings Provider

• 85% of savers meet their savings goals and invest in education or small businesses
• 3 out of 4 savers continue to save at rates higher than the average American after program completion
• 70% of families open savings accounts for their children