BNY Joins U.S. Government's Investment Initiative for Children, Expanding Access to Savings and Financial Opportunity for Employees

Core Viewpoint - BNY has announced its participation in the U.S. government's investment initiative for children, matching the federal contribution of $1,000 for eligible newborns of its U.S. employees, thereby enhancing financial access for families [1][3]. Group 1: Company Initiatives - BNY's participation in the initiative is part of its broader efforts to strengthen financial opportunities for employees, which includes BK Shares equity grants, new student loan matching, and enhanced 401(k) features [2]. - The initiative aims to provide a head start for employees' children towards a stronger financial future by matching the government's contribution [3][5]. - The children's savings account program allows for a $1,000 pilot contribution from the U.S. Treasury into a tax-advantaged account for eligible children born in the U.S. between 2025 and 2028 [3]. Group 2: Financial Impact - BNY's match of the pilot contribution will provide an additional $1,000 per eligible child once the account is opened and verified, facilitating immediate savings for families [4]. - As of September 30, 2025, BNY oversees $57.8 trillion in assets under custody and/or administration and $2.1 trillion in assets under management, indicating its significant role in the financial services industry [5]. Group 3: Company Background - BNY is a global financial services company with over 240 years of experience, supporting clients including over 90% of Fortune 100 companies and nearly all top 100 banks globally [5]. - The company has been recognized among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators [6].