Micron pledges $250 million to new federal child savings accounts

Micron Technology announced a $250 million contribution to the U. S. government’s newly created child savings accounts, matching employee donations and making a one-time deposit for children in counties where the company operates, according to The New York Times. The funding is part of the administration’s effort to promote long-term savings for minors.

Micron said the money will be allocated through the federal child investment accounts system. Employee contributions will be matched by the company, effectively doubling the amount directed to the accounts. A single $250 million deposit will be made in several states where Micron has facilities.