Story in the Los Angeles Times
today telling about a new program that helps low-income people save for various goals. Generally, people's contributions to their savings are matched dollar for dollar. Apparnelty there are a bunch of such programs offered in many or all states: Getting a leg up in pursuit of dreams - latimes.com
Its not clear from the story whether these would be in FDIC insured bank accounts, or otherwise insured. Nor is the tax status of this addressed.
A nonprofit called the Corporation for Enterprise Development can help find the programs: CFED
On its face, it sounds like some worthwhile savings programs for people who qualify, generally an income and asset qualification.
Your money in the account remains accessible to you, but if you withdraw any amount before reaching the goal, you lose the matching funds and are kicked out of the program and can't return.