How To Invest

To participate in Virginia SNAP and invest in the SNAP Fund you must complete the following steps:

New Participants (first time investors):

Complete the following steps to join the SNAP Program

Read the Information Statement and the Contract
Contact a Program Representative to have your questions answered
Have your governing body adopt the Sample Resolution or provide the Alternative Participation Agreement
Complete the New Investor Application
Complete the appropriate forms as listed below for Existing Participants

Existing Participants:

For revenue bond issues and other bond issues that involve a trustee

Complete the following forms/steps to open a new account

Trusteed Account Application
Provide a Program Representative with a copy of the applicable Trust Indenture/Agreement
Schedule A – Trustee Verification Form
Permissions Form
Contact Record Form

For bond issues administered entirely by Participant staff

Complete the following forms to open a new account

Account Application
Permissions Form
Contact Record Form

New Self-Service Feature Available

You can now open subaccounts entirely online through Connect — no forms required!

This enhancement streamlines everyday account management and gives you more flexibility to organize, track, and manage funds directly within the portal.

Upcoming Educational Webinar

Join us on June 11, 2026, for our complimentary educational webinar, Demystifying the Fed: What Every Public Finance Professional Should Know. This one-hour session will offer a practical look at how Federal Reserve decisions shape the public‑sector investment environment.

Click here to register.

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On October 27, 2016, the SNAP Fund (“SNAP Fund” or “Fund”) was established as a local government investment pool. The Fund invests in securities permitted by Code of Virginia §2.2‐4500 et seq. and may hold deposits subject to Code of Virginia § 2.2‐4400 et seq. Additional information on the Fund’s investment policies can be found in the SNAP.

This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security. Investors should consider the investment objectives, risks, charges and expenses before investing in the Virginia State Non-Arbitrage Program (“SNAP^®” or the “Program”). This and other information about the Program is available in the SNAP^®Information Statement, which should be read carefully before investing. A copy of the SNAP^®Information Statement may be obtained by calling 1-800-570-SNAP (7627) or is available on the Program’s website at www.vasnap.com. While the SNAP^®Fund Portfolio seeks to maintain a stable net asset value of $1.00 per share, it is possible to lose money investing in the Program. An investment in the Program is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the SNAP^®Fund Portfolio are distributed by U.S. Bancorp Investments, Inc., member FINRA (www.finra.org) and SIPC (www.sipc.org). PFM Asset Management is a division of U.S. Bancorp Asset Management, Inc., which serves as administrator and investment adviser to the Program. U.S. Bancorp Asset Management, Inc. is a direct subsidiary of U.S. Bank N.A. and an indirect subsidiary of U.S. Bancorp. U.S. Bancorp Investments, Inc. is a subsidiary of U.S. Bancorp and affiliate of U.S. Bank N.A.