MyPath Featured in National Best Practices Report on Youth Financial Capability
In September, CFED released a national report co-sponsored by the Consumer Financial Protection Bureau (CFPB) and Administration for Children and Families (ACF) that showcases MyPath. The report, entitled Building Financial Capability in Youth Employment Programs , summarizes the lessons from a CFPB and Treasury sponsored convening last November about integrating financial capability into youth workforce settings.
MyPath Reno in the News
Channel KTVN 2 featured MyPath’s arrival in Reno on its “Money Watch” series. Hear BGCTM’s Education Director Tina Collier describe how integrating MyPath into their summer youth employment program makes a difference. “Most importantly,” BGCTM Education Director Tina Colliver says, “the program teaches members about how to save money and build goals with the money that they make over the summer.”
SF Mayor Ed Lee Recognizes MY Path™ Summer Pilot
In early August, Mayor Ed Lee praised the groundbreaking collaboration between Mission SF, United Way Summer Jobs +, and Community Trust to provide summer youth employment program participants with access to quality financial products and support to set and meet a personal savings goal through Mission SF’s MY Path. In doing so, San Francisco became the first in the nation to combine financial education, access to credit union financial products, and saving incentives into summer youth employment!
Engaging Working Youth in the Financial Mainstream
On May 9, 2013, Mission SF Community Financial Center and the Federal Reserve Bank of San Francisco co-hosted an event, “Engaging Working Youth in the Financial Mainstream,” to a packed audience of 80+ financial institutions, workforce development organizations, public officials, educators and funders. After a panel including Citi Community Development, Community Financial Resources, Mission High School and Mission SF’s MY Path Program, the audience broke into smaller groups to discuss the primary barriers to providing more robust financial services to youth and young adults at scale. The best was saved for last, however, when Mission SF’s youth leaders presented an insightful, heartfelt, on-the-ground perspective of why financial capability efforts matter to their communities – which are disproportionately affected by fringe financial services – their families and their futures.
MY PATH Awarded National Grant from CFSI
On April 23, the Center for Financial Services Innovation awarded us a grant to replicate our MY PATH program throughout San Francisco. This two-year grant, which recognizes the MY Path Program as being one of the most promising interventions in the financial capability field, will allow us to expand our partnerships with youth employment programs and to connect more young people to our award winning financial capability program. We were one of 8 national grantees selected out of 125 applications from 38 states and Washington DC!
The expansion of the MY PATH program is supported by a grant from CFSI's Financial Capability Innovation Fund II. The Fund is supported by a collaborative of funders led by the Citi Foundation and also including Capital One Foundation, NYSE Euronext Foundation, Charles Schwab Bank, Charles Schwab Foundation, and Experian. For more about the Fund, click here.
MY Path White Paper Release
The Federal Reserve Bank of San Francisco’s Center for Community Development Investments released a paper highlighting the success and promise of our MY Path program. The paper, Increasing Financial Capability among Economically Vulnerable Youth: MY Path, shows how financial capability initiatives such as MY Path are uniquely promising interventions to provide economic opportunities to low-income, working youth.
We would like to acknowledge the support of our key implementation partners, generous funders and our evaluation team - this would not have been possible without you.
New ERA's Campaign
Support New ERA’s campaign to make San Francisco the first city in the US where all youth that earn stipend money get accounts, direct deposit and financial education to get started with saving and smart money management! This is important to us because without the campaign many youth will continue to use fringe outlets, lose their hard-earned money, create lifelong habits, and taxpayer dollars will be going to the check cashers and payday lenders. New ERA seeks to work with DCYF, other youth funders, youth organizations and other youth in our community to make sure we succeed. We will also seek support from the Treasurer’s Office, the Youth Commission and Supervisors. Support a New ERA of financial access for low-income youth!