MyPath Ensures Working Youth and Young Adults Get Banked and Start Saving When They Earn Their First Paycheck:
There are 20 million young people ages 16 – 24 working in the U.S., earning their first paychecks, often in summer youth employment programs. Many of these youth are growing up in financial deserts, communities without ready access to safe, quality financial tools and information.
Reaching youth with financial tools and information as they are starting their first jobs gives them a real shot at upward mobility, regardless of their zip code. This teachable moment—a first paycheck—offers a powerful touchpoint where access to banking, saving and credit-building are especially relevant and timely.
MyPath is a national nonprofit focused on paving economic pathways for low-income youth. MyPath helps cities and nonprofits “bake” banking, saving and credit-building tools and information directly into their existing youth employment programs to build local economic pathways. MyPath seeks to leverage this teachable moment at the beginning of their financial lives to set the foundation for upward economic mobility, ultimately transforming their income into financial and personal growth.