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
Stay tuned for more information as the plan is for all remaining regions to roll out by the end of 2024.
Download the flyer.
For more information, talk to your local PAL staff.
