Durham Encourages Families to Join Federal Investment Program

City leaders in Durham are urging families to participate in a federal investment initiative, highlighting that a new local campaign could potentially increase the Children’s Investment Fund significantly for eligible families.

The program, supported by the government and various donors, is designed to provide each qualifying child in Durham with several hundred dollars aimed at helping them save and invest for their future.

How It Works

This initiative, referred to as Invest America Durham, offers a unique opportunity for families.

Children born between January 1, 2025, and December 31, 2028, can expect a deposit of $1,000 in U.S. Treasury funds into their accounts. Meanwhile, older children born from 2016 to 2024 will be eligible for a $250 contribution, courtesy of the Michael and Susan Dell Foundation.

The federal program is set to launch on July 4th, with families needing to register their children using the new IRS Form 4547.

Starting July 6, federal and national charitable contributions will be placed into each child’s account, and families can continue to contribute up to $5,000 annually as needed.

Mayor Leo Williams expressed hope that all eligible children in the area will take advantage of this opportunity.

He also mentioned that families who register before the deadline and secure a starter investment would receive a $250 matching contribution. This matching fund is part of a $9 million campaign aiming to gather support from local businesses and civic leaders.

Williams, along with City Councilman Carl List and Invest America founder Brad Gerstner, plans to hold a press conference on Friday to discuss this exciting new campaign.