The Department of Family and Protective Services (DFPS) entered into an agreement with Capitol 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
The Financial Pilot has rolled out to youth and young adults living in these regions:
- July 15, 2024 - Region 7
- August 15, 2024 - Regions 2 and 11
- September, 15, 2024 - Regions 6 and 9
- October 15, 2024 - Regions 3E, 3W and 5
- November 15, 2024 - Regions 1, 4 and 10
- December 15, 2024 - Region 8A and 8B
Download the flyer.
For more information, talk to your local PAL staff.
