Mission SF Request For Proposals |
The MY Path Program
Drawing on lessons from our youth models over the years—the Youth Credit Union Program, Youth Trainers for Economic Power and PLAY—the MY Path program is an incentivized youth savings program that familiarizes participants with basic banking skills and valuable financial concepts such as budgeting, saving and tracking expenses.
With generous funding from the Center for Financial Services Innovation, Mission SF is selecting 15-20 new sites to participate in the MY Path Program free of charge. All selected sites will receive MY Path restricted savings accounts for all youth enrolled in their program, as well as a second credit union account for those youth that need it; a $100 savings match per youth when they meet their personal MY Path savings goals; and technical assistance in establishing direct deposit for youth payments. In addition, some agencies will receive access to online financial capability curriculum and $60 more in incentives per youth to support them in saving, budgeting, and tracking expenses. MY Path will be rolled out in two Phases; those youth programs selected for participation in the MY Path Program may receive services in either Phase I, which will begin in fall 2013, or Phase II, which will begin in fall 2014.
With generous funding from the Center for Financial Services Innovation, Mission SF is selecting 15-20 new sites to participate in the MY Path Program free of charge. All selected sites will receive MY Path restricted savings accounts for all youth enrolled in their program, as well as a second credit union account for those youth that need it; a $100 savings match per youth when they meet their personal MY Path savings goals; and technical assistance in establishing direct deposit for youth payments. In addition, some agencies will receive access to online financial capability curriculum and $60 more in incentives per youth to support them in saving, budgeting, and tracking expenses. MY Path will be rolled out in two Phases; those youth programs selected for participation in the MY Path Program may receive services in either Phase I, which will begin in fall 2013, or Phase II, which will begin in fall 2014.