Title: Learnings from the FDIC Youth Savings Pilot
Wednesday, November 15th, 2017
Economic inclusion strategies enhance trust and confidence in the financial system because consumers gain value from the products and services they use. What better way to engage consumers and begin building trust than to start early through youth savings programs. While many banks report being engaged with schools to offer financial education in the classroom, combining this with opening and managing savings accounts is less common. The FDIC launched a two-year pilot with 21 financial institutions, along with their school partners, to identify strategies, lessons, and promising practices for banks and other organizations interested in participating in this program.