Build Your West Virginia Trade Career With The Jumpstart Savings Program

Are you a West Virginia trade professional looking to invest in your career growth and future success? If so, the West Virginia Jumpstart Savings Program is just what you need. Designed specifically for current and aspiring members of the skilled workforce in the state, this program offers a range of benefits tailored to help you achieve your goals.

Who Can Benefit From The Jumpstart Savings Program?

The Jumpstart Savings Program is open to a variety of individuals, including:

  • Participants in registered apprenticeship programs
  • Community and technical college students and graduates
  • Advanced Career Education (ACE) students and graduates
  • High School Career Technical Education (CTE) students and graduates
  • Individuals who've obtained licenses, certifications or degrees through “Series 35” vocational training programs
  • Anyone who has completed other approved apprenticeship or educational programs consistent with the program's goals

To open an account, you must be at least 18 years old, a resident of West Virginia and either currently working or planning to work in a qualifying profession.

Save For Qualified Expenses

Save for the tools and resources that fuel your success! A Jumpstart Savings Account lets you set aside money for work-related expenses specific to your trade. This can include essential items like work boots and business cards, but it goes much further. Qualified expenses can help you at any stage of your career, whether you're starting out, growing your business or needing to maintain your qualifications. Here are some examples:

  • Tools and Equipment: Invest in the tools you need to get the job done, from channel locks and table saws to air compressors and concrete mixers.
  • Start-up Costs: Launching a new business? Your Jumpstart Savings Account can help you save for essential items like office space, inventory, a service truck and marketing materials.
  • Continuing Education: Stay competitive in your field by covering the costs of required certifications and licenses, including OSHA certifications and professional licenses needed to work in West Virginia.


Why Open A Jumpstart Savings Account?

Ease and Flexibility

Enjoy the convenience of managing your funds with no monthly maintenance fees, transaction limits or minimum balance requirements. United Bank's online and mobile banking features make accessing your account simple and hassle-free.

State Tax Advantages

One of the most significant benefits of the Jumpstart Savings Program is the opportunity for West Virginia taxpayers to claim a personal income tax deduction of up to $25,000 per tax year for contributions to their account. Contributions exceeding this limit can be carried forward for up to five years. Additionally, withdrawals used for qualified expenses may be tax-free.

Employer Matching Credit

Employers can qualify for a state tax credit of up to $5,000 per taxable year, per employee, for contributions made to their employees' Jumpstart Savings Accounts.

Ignite Incentive

Get a $100 jumpstart! The Ignite Incentive offers a special bonus for young people and those starting their careers in a skilled trade. If you're a West Virginia resident under 18 years old with an interest in a skilled profession, or if you enroll in a qualified apprenticeship or training program within 180 days of opening your Jumpstart Savings Account, the State Treasurer will deposit $100 into your account.

Rollover Benefits

Participants can benefit from state tax reductions by rolling over funds from their Jumpstart Savings Account into a West Virginia ABLE account or by depositing distributions from a West Virginia SMART529 account into their Jumpstart Savings Account.

How To Get Started

The Jumpstart Savings Program makes opening an account quick and easy. In just 10 minutes, you can complete the online application process. To get started, all you need is an initial deposit of $5. Once you submit your application, the West Virginia State Treasurer's Office will review it. If you're approved, a representative from United Bank will contact you to finalize the account opening process. If you are still determining if you are eligible to open an account, take our quiz!

The West Virginia Jumpstart Savings Program is a valuable resource for trade professionals at every stage of their careers. Whether you're just starting out or looking to expand your business, this program offers the tools and incentives you need to succeed. Open an account today and start investing in your future!