ABLE Accounts: Increasing Access to Savings and Opportunity

As we close October, National Disability Employment and Neurodiversity Awareness Month, we reflect on the importance of expanding economic opportunity for all Americans. Having spent my career in banking and regulation, I have come to view equal access to financial services as a cornerstone of financial security for all—and nowhere is that more evident than in the economic struggles of people with disabilities.

Despite progress, Americans with disabilities remain three times more likely to be unbanked than their non-disabled peers. The National Disability Institute reports that only 11.2% of working-age adults with disabilities have access to basic banking services, a number that reflects systemic barriers rather than personal choice. Many individuals are forced to keep their savings below strict asset limits to maintain eligibility for vital federal benefits. This structure effectively penalizes financial responsibility.

The Achieving a Better Life Experience (ABLE) Act of 2014 offered a way forward. ABLE Accounts let eligible individuals with disabilities save and invest without losing benefits such as Medicaid or Supplemental Security Income. Funds can be used for education, housing, transportation, employment support, and other qualified expenses—empowering individuals to plan for their future instead of living month to month.

Upcoming reforms make this a pivotal moment. In 2026, the ABLE Age Adjustment Act will expand eligibility to individuals whose disabilities began before age 46, up from the current age 26 threshold. Other recent legislative changes include raising the annual contribution cap to $20,000 (beginning in 2026), permitting tax-free 529 rollovers, and extending the Saver’s Credit for ABLE participants. These reforms will extend opportunity to millions of additional Americans and families.

Yet less than 3% of eligible individuals have opened an ABLE account. The reasons are clear: limited public awareness, inconsistent outreach, and complicated enrollment processes. Without stronger collaboration among financial institutions, employers, and advocacy organizations, this transformative tool will remain underutilized.

During my service as Chairman of the National Credit Union Administration and later as Acting Comptroller of the Currency, I saw both the promise of innovation and the pain of exclusion. In remarks to the Credit Union National Association, I called ABLE Accounts “the most important tool created this decade for overcoming intergenerational poverty in the disability community.” I continue to believe that financial citizenship means the right to plan, save, and earn a return on one’s own potential—regardless of disability.

To fulfill that vision, we must act.

• Educate and inform: Every state and employer should promote ABLE programs alongside retirement and college savings options.
• Simplify and digitize: Financial technology firms can modernize enrollment, automate contributions, and improve accessibility. Vestwell is already demonstrating how thoughtful innovation can make these experiences seamless and accessible.
• Partner with purpose: Banks, credit unions, and community groups should collaborate with employers and advocates to reach eligible households.

ABLE Accounts will not solve every financial inequity, but they represent a cornerstone of economic dignity. By enabling individuals with disabilities to build assets, withstand emergencies, and invest in themselves, these accounts reflect the best of what our financial system can achieve—empowerment through access.

If America is to live up to its founding ideals, we must ensure that everyone has equal access to the financial tools that build stability and independence. This October—and every month—let us move from awareness to action and work toward a future where access to saving and opportunity is truly universal.

Learn more about ABLE Accounts in our blog, “ABLE to Save: Could an ABLE Account Be Right for You?”

About the Author

Rodney E. Hood is the former Acting Comptroller of the Currency and former Chairman of the National Credit Union Administration. He currently serves on several financial technology and housing finance boards, including as Board Observer at Vestwell. Throughout his career, he has championed financial inclusion and equitable access to capital.