Vermont Matched Savings

What We Do

The purpose of the Vermont Matched Savings Program is to provide a financial incentive and financial education to those eligible individuals who wish to purchase a defined asset. Eligible uses for matched funds are:

•    purchasing a first-time home
•    repairing a primary residence owned by the VMS participant
•    starting or capitalizing a small business
•    post-secondary education or job training or certification
•    purchasing required tools of the VMS participant’s trade
•    new or used vehicle, or repair of VMS participant’s vehicle, to seek or keep employment

When you join VMS, you open a joint savings account with CVOEO. For every dollar you save in this account, an opportunity exists for you to earn a 1:1 dollar match (know dollar and time limitations apply).

As part of the program, you will take Growing Money classes on budgeting, saving, and credit. The defined asset you are saving for will also determine additional educational classes you are required to take to be match eligible. You will also have one-on-one financial coaching to help you set and achieve your savings financial goals and to assist you in navigating through the program successfully.



•    Be actively earning the money you wish to deposit
•    Have assets below $10,000 (excluding a car and your home) 
•    Meet household income requirements (as displayed below)
•    Be 18 years of age
•    First time VMS participant








Do you have questions on whether or not you qualify? Contact us today!

How Does it Work?

Step One: APPLY
•    Review eligibility requirements. If you think you qualify, submit an application to VMS along with the requested supporting documentation.

•    VMS staff reviews your application. You are deemed eligible or ineligible.
•    If eligible you will enter into an agreement in which you identify the asset you wish to purchase.

•    With a completed agreement in place, you will open a joint savings account with CVOEO.
•    You will make deposits in the joint account as agreed upon.

•    During your active savings period, you will participate in financial education classes some of which are asset specific.

•    Once all program requirements are met, you become eligible to withdraw matched funds. Withdrawals of matched funds are subject to approval and are made payable to the person or entity who provides the eligible use. In other words, the funds are not released to the VMS participant.

Step Six: CLOSE
•    With all program requirements met and funds withdrawn, the joint account is closed.

Want to learn more? 
Take a look at our flyer or contact for more information.

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CVOEO addresses fundamental issues of economic, social, environmental, and racial justice and works with people to achieve economic independence.


Serving more than 10,000 households annually,
impacting the lives of over 23,000 individuals