Children Savings Accounts “Education is the most powerful weapon which can be used to change the world” Unknown Champions For a Cause

Project Results:  Raised the aspiration of family and children  The development of CSAs  San Francisco Public School District launched the first Kindergarten to College program in 2011  Approximately 26 CSA accounts across the Nation  Cfed is the leading agency with an objective of having 1.4 million children enrolled in a CSA by 2020 Children Savings Accounts History:  1990’s ideology of asset building was introduced  Individual Development Accounts (IDA’s) were developed to encourage adult savings with a method of matched funds  The Corporation for Enterprise Development (CFED) along with other partners introduced an initiative known as Savings for Education, Entrepreneurship and Development (SEED)  Purpose: Test, inform, and promote savings for low- to-moderate income families HISTORY AND FUN FACTS

What’s Happening In Our Community ? Mississippi Facts 35% of our children live in poverty 35% of households spend more than 30% of income on housing 32% of students don’t graduate on time ( ) 49% of children live in single family households (2012) 14% of children live in households with no high school diploma (2012) 28% of children live in households in high poverty areas ( ) 7% of children are not covered by health insurance (2012) Data Notes: information extracted from Mississippi Count 2015 fact book

Mississippi has the highest number of extreme poverty in the country and 32% of children live in poverty. Poverty alone has monumental challenges and affects the well being of a child. Hattiesburg Public School District poverty rate is 44%.

One of the most serious components of poverty is Housing. Affordable and decent housing is a chronic problem in MS. African Americans and Hispanics have the highest rate of rent burden. Rent burden is defined as spending more than 30% of income on rent.

Chronic Absenteeism 14.6% HPSD Poverty Level 44% K-Readiness Score 481 Benchmark 530 State Average 501 High School Graduation Rate 74.8% (10% improvement from ) Student Population 4,552 Average ACT Score % Free or Reduced Lunch

CITY OF HATTIESBURG INITIATIVES SOCIAL EMOTIONAL DEVELOPMENT INTELLECTUAL DEVELOPMENT SCHOOL REDINESS BY 5 COMMUNITY CONVERSATION EXCEL BY 5 HATTIESBURG READS LITTLE FREE LIBRARY PROJECT CoH EMPLOYEE HEALTH CLINIC E3 PROJECT (COH/USM) NAVIGATION GRANT (USM) E3 EXPANSION (USM) MS DEPT. OF HEALTH CoH PROGRAM DEALING WITH CHRONIC HEALTH CONDITIONS ECONOMICS CHILDRENS SAVINGS ACCOUNT FINANCIAL LITERACY EDUCATION COLLEGE OR VOCATION POSSIBILITIES FINANCIAL LITERACY IN ELEMENTARY SCHOOL FINANCIAL LITERACY FOR PARENTS “The future promise of any of nation can be directly measured by the present prospects of its youth”, John F. Kennedy Essential Components of Child’s Well Being MFEI – EARNED INCOME TAX CREDIT BANK ON HATTIESBURG DOWN PAYMENT HOME OWNERSHIP FINANCIAL LITERACY TRAINING DOWN PAYMENT HOME PROGRAM HOME REPAIR AND RENOVATION CoH CURRENT PROGRAMS For more information go to hattiesburgms.com and hubcityaccess.com HEALTH AND SAFETY

Why Have a Children’s Savings Account in Hattiesburg Public School District ?  Give students an additional tool to succeed in life  Introduce the concept of education and financial literacy at an early age  Financial literacy training breaks the cycle of generational poverty  Address the concerns of the unbanked and under banked  Create future bank clients  Teach responsibility and discipline  Offset the challenges of the family economics with a positive program “ He who opens a school door closes a prison” Victor Hugo Children Savings Account Objective Breaking The Cycle

HOW DOES IT WORK? Build a Dream Team Set Program Goals Select Target Population Select Project Coordinator Select Account and Financial Partner Foster Family and Child Engagement Incentives to Grow Savings Build Financial Capacity Budget for Project Fund Raising Program Management DATA GATHERING AND Tracking Success

What’s Next? Use CFED Investing in Dreams as a blueprint to design our CSA

What’s Next? Establish a series of meetings to develop the Design Team

What’s Next? Schedule a community meeting to explain the concept and get feedback

What’s Next? Delegate the 12 components to the appropriate members of the design team to identify the best practices for our Children Savings Account

What’s Next? Use data gathered to develop the Children Savings Account

What’s Next? Establish a timeline for the implementation of the Children Savings Account

What’s Next ? Develop policies and procedures to sustain the Children Savings account