The Department of Family and Protective Services (DFPS) entered into an agreement with Capital Credit Union to assist youth and young adults ages 14-21 to achieve financial security and independence as they transition to a successful adulthood. This will be accomplished by assisting youth and young adults in establishing savings and checking accounts through a tier system, based on the age of the youth or young adult.
Youth and young adults who participate in the pilot gain these benefits:
- Sole ownership of the account
- No co-signer
- No monthly fees
- No maintenance, overdraft, non-sufficient fund or penalty fees
- Financial online training with incentives
- Financial mentoring available
Currently DFPS is testing and slowly rolling out the pilot in Region 7. Stay tuned for more information about a statewide roll out coming soon!
For more information, talk to your local PAL staff.
