CHICAGO, Feb. 5, 2021 /PRNewswire-PRWeb/ -- Announced today, YMCA of the USA (Y-USA) will team up with Goalsetter and its "Drafted" initiative to help introduce the free, family saving, financial literacy and smart spending app to families with a goal of signing up one million Black kids to save money. The "Drafted" campaign will launch just in time for Black History Month and will feature celebrities, influencers, community organizations and corporations who each use a day in February to "draft" kids to get savings accounts.
In response to the 2020 forecast that the median wealth of Black Americans will fall to zero by 2053, Goalsetter launched a movement to help 1 million Black kids open savings accounts. This partnership with the YMCA is part of Goalsetter's aim to reach every kid in America and dovetails with the Y's deep commitment to become an anti-racist, multicultural organization committed to advancing equity for all. As a key partner in the Drafted initiative, the Y will encourage Y families to participate in the project by downloading the app and drafting a kid they love into the league of financial literacy.
Families who sign up their kids for Goalsetter will be providing their children a leading-edge banking and financial education app, which includes access to:
- An FDIC-insured savings account
- Weekly fun financial literacy quizzes, powered by memes and gifs
- A Cashola Card, the Goalsetter tween and teen debit card backed by Mastercard
- Unique features like "Learn to Earn" that lets kids earn money for every financial literacy quiz question they get right, and "Learn Before you Burn," which automatically freezes kids' debit cards if they don't take their quiz for the week.
- Gifting functionality, which enables families to gift money towards kids' goals via the Goalsetter app
"The Y is committed to helping all young people reach their full potential, and financial literacy is an important building block," said Kevin Washington, president and CEO of YMCA of the USA. "We believe introducing Goalsetter to the 9 million kids the Y serves each year, and their families can have a significant impact on financial literacy in our country. Goalsetter can help Y families not only save money, but also make educated spending decisions."
The "Drafted" Initiative
All YMCA families will also be given a unique sign-up link for the Goalsetter app for easy access. By using that unique sign-up link, each time a family downloads the app and funds a savings account, Goalsetter will make a $1 donation to their local Y to support the Y's community impact work. As part of the "Drafted" campaign, each Y will ask "Who's Got Next?" and challenge Ys across the country to draft kids in their local communities as well.
"We are excited to collaborate with the Y to give the gift of financial literacy to every kid the Y serves," said Goalsetter founder & CEO Tanya Van Court. "Our mission is to empower the youth of today to fulfill their dreams of tomorrow. Through the Y and its deep community roots, we know that thousands of additional families will discover how the Goalsetter app can not only give kids their first savings accounts and debit cards, but can teach them critical financial concepts with engaging game-based financial quizzes. The best gift we can give our kids is the opportunity to learn money before they begin to burn money."
The "Drafted" initiative is a joint project by the National Basketball Players Association (NBPA) and Goalsetter, focused on having adults and mentors "draft" the kids they love into the league of financial literacy.
This Goalsetter program is committed to helping today's youth save money and spend smartly, and is based on research from leading educators that shows children with savings accounts (regardless of amount invested) are six times more likely to go to college and four times more likely to own stocks as young adults.
Goalsetter engages kids from all backgrounds in understanding how to build wealth and learn financial language by offering savings accounts coupled with quiz-based games that are developed using memes and GIFs from hip-hop artists, social media influencers and pop culture personalities.
About the YMCA
Driven by its founding mission, the Y has served as a leading nonprofit committed to strengthening community for more than 175 years. The Y empowers everyone, no matter who they are or where they're from, by ensuring access to resources, relationships and opportunities for all to learn, grow and thrive. By bringing together people from different backgrounds, perspectives and generations, the Y's goal is to improve overall health and well-being, ignite youth empowerment and demonstrate the importance of connections in and across 10,000 communities nationwide. ymca.net
About the NBPA
The National Basketball Players Association is the union for current professional basketball players in the National Basketball Association (NBA). Established in 1954, the NBPA's mission is to protect and support the rights and talents of our players, magnify the power of their collective will, and amplify their voices as leaders who will transcend sport and society globally.
The NBPA advocates on behalf of the best interests of all NBA players, including the negotiation of collective bargaining agreements, the filing of grievances on behalf of the players, or counseling players on benefits, educational and post-NBA career opportunities. Business opportunities are generated by THINK450, the subsidiary of the NBPA charged with managing the players' group licensing rights.
Dedicated to preserving the legacy of its members, the NBPA Foundation provides support and assistance to persons, communities and organizations around the world that seek to improve the lives of those in need.
As a family saving, financial literacy and smart spending app, Goalsetter makes it easy for the whole family to go cashless and learn how to be money-smart. Goalsetter's smart money app for families includes: FDIC-Insured Savings Account; the Cashola Teen and Tween Debit Card with parental controls, Game-based financial literacy quizzes; "Learn before you Burn" parental control feature on the debit card and the "Learn to Earn" game-based pay-to-play reward system. Goalsetter was founded by Tanya Van Court, a former Nickelodeon and ESPN executive. Click here to learn more about Goalsetter's robust app and offerings.
Emily Waldren, YMCA of the USA, 312-419-8756, [email protected]
SOURCE YMCA of the USA