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
Effective July 15, 2024, the financial pilot officially launched for youth and young adults ages 14-21 living in Region 7. Stay tuned for more information as other regions roll out incrementally in the coming months!
Download the flyer.
For more information, talk to your local PAL staff.
