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PLAY (Prize-linked Accounts for Youth)
PLAY provides children and youth with a free savings account and a fun hands-on way to learn personal finance and build a savings habit. PLAY savers set a personal savings goal to purchase something they want. PLAY saver goals have included school supplies, a guinea pig and a cell phone. While existing children and youth savings programs have pre-set savings goals and uses, typically for longer-term goals, PLAY emphasizes shorter-term goals and personal uses for savings, with three goals in mind: (1) truly engaging children and youth by linking their saving to something they themselves identify as a purchase goal; (2) building saving, smart spending and budgeting habits; and (3) promoting the idea of save and spend, versus spend and owe. Along with the built-in incentive to achieve their goal and make their purchase, PLAY savers are incentivized to make each deposit on time because each time they do, their deposit “buys” them a ticket to win the PLAY Big Loteria prize.

    To get started, participants must attend a PLAY Orientation Training, provided by Mission SF’s peer financial educators Youth Trainers for Economic Power. PLAY savers participate in interactive training activities on money management fundamentals and receive support to set their savings goal. PLAY savers are broken into two age groups: Big Dreamers (ages 5-10) and Money Makers (ages 11-17). To be eligible to win the PLAY Big Loteria Prize, PLAY savers must: (1) Make all of their monthly deposits into their Youth Credit Union Program savings account (held by Mission SF Federal Credit Union, a federally-insured and chartered credit union); (2) Attend one Saturday training activity called Talkin Bout Money; and (3) Participate in PLAYAH’s Day and play La Loteria to win.

    Mission SF Community Financial Center launched the innovative PLAY program, the only one of its kind in the nation, to establish long-term healthy financial habits among children and youth—and in turn their parents—to create a generation of empowered and informed consumers, one saver at a time. PLAY was designed using the prize-linked savings model developed by Harvard’s Peter Tufano, founder of the D2D Fund. With guidance from Professor Tufano, Mission SF supported a team of youth and adults to adapt the model for young savers and to incorporate youth development and leadership principles. Mission SF’s PLAY model places youth in key leadership roles: as its designers, as the tellers that manage PLAY accounts, and as the PLAY trainers.

    Click here to read an article about PLAY in the Mission Local Blog and Newspaper.

  1. Saving Accounts at the Youth Credit Union Program (YCUP)
  2. Our financial services are just for youth. Any youth 18 or younger can get involved. You can open an account for as little as $5. There are NO fees. YCUP savings accounts receive .25% interest annually. Members 13 and older have full control of their money. Parents do not have access to accounts unless the youth member agrees.

    Why Should You Open a YCUP Savings Account?
    • Start to save early
    • You don’t need your parent’s permission
    • Free workshop on how to save money for all members

    The YCUP Has Two Types of Accounts to Help You Save:
    • Short-term accounts allow you to make deposits or withdrawals when you like.
    • Long-term accounts allow you to decide how long you want to save money for a certain goal. Once a term is chosen, you can’t access the money until the term is up.

  3. YCUP (Youth Credit Union Program)
    Developed in 1996, YCUP is California’s first ever youth-run credit union program. YCUP offers unique leadership and job development opportunities to all its members. If you are between 6 and 18 years old, live in the Mission, Excelsior, Bay View, Visitation Valley or South of Market area, and are interested in learning about how to manage a youth credit union, consider becoming a member of the YCUP staff.

    For more information about YCUP, stop by our office at 3269 Mission Street or give us a call at 415-206-0846, ext. 19.
    • Developed in 1996, the YCUP is a credit union run by youth, for youth!
    • The purpose is to help youth and families save and manage money by offering free saving accounts and free financial literacy training.
    • YCUP offers volunteer and job opportunities to members from 12 to 17 years.
    • YCUP members gain many valuable skills that will help them throughout their lives, such as job skills, public speaking, financial justice, and how to manage their money and teach others, as well.

  4. YTEP (Youth Trainers for Economic Power)
    YTEP is the newest program of Mission Community Financial Center and is run in partnership with YCUP. YTEP is made up of eight youth trainers who train over 500 other youth per year in San Francisco about personal finance and social justice, with a focus on how to increase youth understanding of how money, community economics and policies affect our daily lives.
    To apply for a Youth Savings Account or Youth employment at YCUP/YTEP, applications can be accessed here.
    Click here to read an article about YTEP by the Federal Reserve.

  6. REP - Representing Economic Power
    • REP is a youth run marketing group in charge of creating awareness of all youth programs available at Mission SF Community Financial Center.
    • REP employees develop fresh marketing materials (flyers, posters, stickers, etc.), attend community events and conduct presentations organizations to attract youth to the Mission Community Financial Center.

  7. Youth Employment for 2010
    • Application for YCUP, YTET and REP will be available beginning March 2010. Interviews will be held in April 2010.
    • Youth applicants will find out results by May 2010
    • New youth will begin work by June 2010.

  8. College Planning
    Mission SF Community Financial Center is currently working on a new program called “Get Ready 4 Life”, which focuses on helping youth members develop a healthy outlook on life and prepare for college. “Get Ready 4 Life” will include:
    • One-on-one mentoring
    • Access to college prep resources and training

  9. Youth Employers