Salem May 2020 Savings Match and Withdrawals

by | May 23, 2020 | Inversant Savings Accounts

These instructions are for Inversant families enrolled in the Salem High School program site.

We recognize the thought and planning it takes to save for higher education. Inversant will reward you for reaching your goal by matching your first $1,000 in savings.

You can withdraw money from your Inversant savings account at Metro Credit Union after each deposit deadline. You may also leave it in your account for later use. The match dollars are available for higher education-related expenses.

When do I receive the savings match?

  • If you have reached your savings goal of $1,000 by May 31, 2020, Inversant will match your savings with an additional $1,000 for educational expenses. Your savings and match dollars will be available for higher education expenses after June 1, 2020. 
  • If you have not reached your savings goal of $1,000 by May 31, 2020, you may keep working on your goal through July 31, 2020. Inversant will match your first $1,000 in savings at that time.

How does the match work?

Inversant will match, dollar-for dollar, your first $1,000 saved. You will receive your match dollars as a check in the name of your child after you submit all necessary documentation.

How do I access the match dollars?

1. Get a copy of your Metro Credit Union account statement from May or July of 2020 that shows you have a balance of, at least, $1,000.

2. Get a copy of a document from the college or university that  your child has chosen to attend: This can be a tuition bill, registration confirmation, or anything that includes the institution’s name, the student’s name, and the student’s ID number.

3. Please email electronic copies of the account statement and college or university document to the Inversant Program Director, Rochelly Araniz, at [email protected], for processing.

4. A check for an amount that matches your submitted statement’s account balance will be mailed to the address Inversant has for you in its database. If necessary, please update your address with the Inversant Program Director, Rochelly Araniz, at [email protected], when you submit your request for your savings match. 

5. Please note that it can take up to three weeks to process a fund match request. Please do not wait until a bill is due to contact Inversant for matching funds.

By the Numbers

  • +1,800 Families Served
  • +$1,612,380 Saved by Families
  • +$1,200,000 in Savings Matched
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