This issue, Issue 15, highlights the findings from the CFE Fund and Federal Reserve Bank of St. Louis’ 2017 Bank On Data Pilot; along with new Bank On resources; updates on the scaling of the Financial Empowerment Center initiative under the FEC Public platform; early successes seen from CFE Fund’s CityStart initiative; updates on Consumer Financial Protection efforts; and highlights from the fifth year of the Summer Jobs Connect initiative. It also includes local updates from the CFE Coalition, and a guest column from Daniel Davis, Assistant Vice President and Community Affairs Officer at the Federal Reserve Bank of St. Louis.
Project Category: Summer Jobs Connect
Videos: Summer Jobs Connect, Where Strong Financial Futures Begin
Each year, over 110,000 young people work summer jobs and are supported through financial education, banking access, and other financial empowerment resources as part of the CFE Fund’s national Summer Jobs Connect (SJC) initiative, supported by the Citi Foundation.
These videos detail three SJC participants’ unique experiences of having a summer job, engaging in financial education, opening a bank account, building savings, and more.
Nicole’s Story
Irfan’s Story
Elaine’s Story
Citi Foundation Supports Summer Jobs Connect with $5 Million
This press release announces the Citi Foundation’s generous contribution of $5 million in funding to the CFE Fund to provide more than 2,400 low-income youth with summer jobs and access to financial education as part of Summer Jobs Connect (SJC) in 2018.
Summer Jobs Connect enhances municipally-led summer youth employment programs by integrating structural linkages to safe and appropriate banking products, services, and education. Since launching in 2014, the Citi Foundation has invested over $23 million in this initiative, which has provided nearly 11,000 low-income youth with summer work experience, access to financial education, and appropriate financial services; SJC city partners have built these financial empowerment strategies into the infrastructure of their Summer Youth Employment Programs.
Summer Jobs Connect: Where Strong Financial Futures Begin
This report, Summer Jobs Connect: Where Strong Financial Futures Begin details the Summer Jobs Connect (SJC) model and serves as a resource for local governments and their nonprofit partners who are looking to add financial empowerment strategies — banking access and financial education – into their Summer Youth Employment Programs.
Summer Jobs Connect is an ambitious initiative spearheaded by the Citi Foundation and the CFE Fund to support young adults seeking summer employment, enhancing these municipally-led programs by integrating structural linkages to safe and appropriate banking products, services, and education.
This report summarizes lessons learned from four years of SJC implementation with thirteen city partners, along with research on youth attitudes and beliefs about savings and banking.
Summer Jobs Connect: Youth Voices Video
This video highlights youth stories from the CFE Fund’s Summer Jobs Connect (SJC) initiative and #SummerJobsConnect Twitter campaign, in which SJC participants shared their stories about the program’s impact – opening a bank account, building savings, earning pay through direct deposit, and more.
Summer Jobs Connect is an ambitious initiative spearheaded by the Citi Foundation and the CFE Fund to support young adults seeking summer employment, enhancing these municipally-led programs by integrating structural linkages to safe and appropriate banking products, services, and education. During the initiative’s fourth year, the CFE Fund worked with 13 city governments and their local Summer Youth Employment Program partners to provide additional job positions to local residents of predominantly low incomes between the ages of 14 and 24, as well as connect them to appropriate bank and credit union products and meaningful financial education.
Citi Foundation and CFE Fund Increase 2017 Summer Job Opportunities through Summer Jobs Connect
This March 2017 press release details the Citi Foundation’s ongoing support; their $5 million investment will provide more than 2,400 low-income youth with summer jobs and access to financial education as part of Summer Jobs Connect in 2017. Since launching in 2014, the Citi Foundation has invested over $13 million in this initiative, which has provided nearly 6,200 low-income youth with summer work experience, access to financial education, and appropriate financial services, and builds these financial empowerment strategies into the infrastructure of the eight city partners’ Summer Youth Employment Programs. The announcement is part of the Citi Foundation’s global expansion of its Pathways to Progress initiative to invest $100 million to prepare 500,000 young people, ages 16-24, for today’s competitive job market.
Supervitamin Quarterly, Issue 8
This issue, Issue 8, provides an update on the Next Generation Municipal Financial Empowerment awards; a brief on financial empowerment’s role in positive youth development from our Summer Jobs Connect initiative; and an announcement of a Request for Expressions of Interest for organizations to serve as a long-term partner to evaluate financial institution products for Bank On National Account Standards consistency. The issue also includes an update on the CFE Fund’s technical assistance work, the CFE Coalition’s 2016 Policy Agenda; and a guest column from the U.S. Department of Housing and Urban Development’s Deputy Assistant Secretary for Housing Counseling, Sarah Gerecke.
Summer Jobs Connect: Connecting Youth to Developmental and Financial Goals
The Summer Jobs Connect (SJC) initiative, generously supported by Citi Foundation, leverages the scale and infrastructure of Summer Youth Employment Programs (SYEPs) to offer banking access and other financial empowerment opportunities, helping to transform a summer job into an on-ramp to the financial mainstream.
This Research Brief details SJC youth participants’ views on financial empowerment, as explored in focus groups across partner cities, and highlights how financial empowerment can support positive youth development (PYD) efforts. PYD describes ideal outcomes for youth, as well as the processes through which they achieve these outcomes.
This brief follows upon a three-report compendium detailing our SJC city partners’ strategies to provide banking access and targeted financial education as part of their local SYEP, and how they are working to sustainably integrate these efforts into SYEP systems.
Supervitamin Quarterly, Issue 7
This issue, Issue 7, provides a number of Bank On updates, including the launch of the Bank On National Account Standards, the announcement of the Bank On Capacity Grant Fund, and updates on critical support from Bank On partners, both regulators and financial institution. The issue also includes a new report, jointly authored by the CFE Fund and the National Consumer Law Center, on the effect of account screening consumer reporting agencies on banking access; a series of briefs from the Summer Jobs Connect initiative; an update on the work of the Next Generation Municipal Financial Empowerment awards; and evaluation findings and resources related to SaveUSA, a tax-time matched savings program. Finally, the issue includes a guest column from Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg on Bank On and the importance of access to banking efforts.
Summer Jobs Connect: Building Sustainable Banking and Savings Programs in Summer Youth Employment
The Summer Jobs Connect (SJC) initiative, generously supported by Citi Foundation, leverages the scale and infrastructure of Summer Youth Employment Programs (SYEPs) to offer banking access and other financial empowerment opportunities, helping to transform a summer job into an on-ramp to the financial mainstream.
This three-report compendium details city partners’ strategies to provide banking access and targeted financial education through SYEPs, and how they are sustainably and systemically integrating these efforts. These reports highlight three distinct strategies that partner cities used to refine and improve their programs during the second programmatic year. Brief One focuses on direct deposit and financial education efforts; Brief Two describes the use of incentives in SJC programs; and Brief Three details structural changes for sustainability.