Sunday, June 14

Extracurricular Activities

Monday, June 15

Core Curriculum

The field of children and youth savings in the united states has largely been shaped by the ideas, influence and support of two institutions – the Ford Foundation, which provided lead funding for the SEED (Saving for Education, Entrepreneurship and Downpayment Initiative) and the Center for social Development, whose director, Michael Sherraden, first proposed the idea of asset-building accounts at birth in his seminal book, Assets and the Poor. hear from the leaders of both institutions about the history and theory behind matched savings accounts for children and youth, the promise of these accounts and some of the key lessons from the SEED initiative.
Speakers: Luis Ubiñas – President, Ford Foundation; Dr. Michael Sherraden – Director, Center for Social Development, Washington University in St. Louis
Moderator: Andrea Levere (CFED)

A. Practice

Although matched children and youth savings accounts are still a relatively new idea, several practical initiatives are already underway and provide important lessons about how best to design and deliver these accounts. In this session, panelists will present best practices from the SEED (Saving for Education, Entrepreneurship and Downpayment) initiative, the first nationwide demonstration of children’s development accounts, and share lessons from other large-scale efforts to deliver matched savings accounts and financial education to children and youth.
Speakers: Carl Rist (CFED) and Elizabeth Vanderweide (Finance Authority of Maine)
Moderator: Frank DeGiovanni (Ford Foundation)

B. Policy

Advocates of children and youth savings argue that a progressive, universal, lifelong system of accounts would establish a basic economic foundation for all children and generate significant benefits to the economy as a whole. While this goal of universal, at-birth accounts has not yet been achieved on a national scale, progress is being made at the federal, state and local levels to enact policies that support and facilitate children and youth savings. In this session, participants will hear about the policy efforts to date, the lessons learned and the opportunities that lie ahead.
Speakers: Jennifer Brooks (CFED), Reid Cramer (New America Foundation) and Heidi Goldberg (National League of Cities)
Moderator: Bob Friedman (CFED)

C. Research

In this session, a panel of researchers and scholars will present the key findings from an emerging body of research on children’s development accounts, including research conducted as part of the SEED (Saving for Education, Entrepreneurship and Downpayment) initiative. Findings suggest that, when engaged in a matched savings program, a significant portion of parents and children from low-income households can and do save and that participation appears to have positive psychological, behavioral and social effects for those parents and children.
Speakers: Michael Sherraden (Center for Social Development), Margaret Clancy (Center for Social Development), Karol Krotki (RTI ) and Ed Scanlon (University of Kansas)
Moderator: Kilolo Kijakazi (Ford Foundation)

D. Market Development

Central to any children’s savings initiative is a financial product or account – preferably one that is simple, can be made available to all children, restricts withdrawals and has the potential for deposits to grow significantly during children’s pre-adult years. While there are several types of accounts currently available in the United States that can be used for children and youth savings, none is perfect and none has achieved universal use. In this session, a panel of representatives from the financial services industry will explore how the private sector can rise to the challenge of building a system of accounts for every child in America.
Speakers: David White (The Children’s Mutual), Lewis Mandell (Initiative on Financial Security) and Michael Johnston (The Capital Group Companies)
Moderator: Lisa Mensah (Initiative on Financial Security)
Video File for Initiative on Financial Security (save video in same folder as the Initiative on Financial Security powerpoint to play within the powerpoint file)

Across the nation, thousands of children and youth are already saving toward their futures through programs such as SEED and the Jim Casey Youth Opportunities Initiative (JCYOI) JCYOI has been a leader in promoting asset-building strategies for youth who are aging out of the foster care system and face the myriad challenges of adulthood, often without the crucial support of family, friends or community. The lunch plenary will open with a presentation about this path-breaking initiative. Then, attendees will hear directly from several accountholders, including former foster youth, about their experiences participating in a matched savings program.
Speakers: Bob Friedman – CFED; Gary Stangler – Executive Director, Jim Casey Youth Opportunities Initiative; Accountholders

A. Practice

B. Policy

C. Research

D. Market Development

Salon H

Salon G

Salon I

Salon F

The Ifetayo Youth Ensemble (IYE) was created to provide an opportunity for youth in the Brooklyn area to receive the highest level of artistic training and support from the community to develop a voice for social change. The IYE utilizes the arts to heighten youths’ self-esteem, cultural pride and community awareness. youth also participate in financial literacy training and are provided with Individual Development Accounts (IDAS) in which their savings for post-secondary education are matched 2:1. IYE members will stay after their performance for a brief discussion with the audience.

Tuesday, June 16

Electives

Recent theoretical work argues that financial education alone is an insufficient goal for young people and that a more appropriate goal is “financial capability” – when individuals develop financial knowledge and have access to mainstream financial services. In this session, researchers and practitioners will discuss how participating in matched saving initiatives can increase expectations and outcomes among children and youth, and how financial education can be made relevant through access to financial institutions and products.
Speakers: Mesmin Destin (University of Michigan) and Lissa Johnson (Center for Social Development)
Moderator: Lewis Mandell (Initiative on Financial Security)

While many of the ideas that have informed children and youth savings practice were born here in the United States, some of the best examples of programs and policy come from abroad. This session will highlight models in Europe, Asia and the Americas that offer lessons for domestic efforts to establish universal children’s development accounts. These programs are often linked directly to children and youth development goals, which can help broaden understanding of the accounts in their various forms.
Speakers: Li Zou (Center for Social Development) and Fred Ssewamala (Columbia University)
Moderator: David White (The Children’s Mutual)

Despite the existence of Pell Grants and other sources of financial aid, there are still significant gaps in college attainment rates based on a student’s socio-economic background. A growing number of experts are pointing to the importance of college savings, especially in low-income households, in helping to increase expectations of college attendance and to prepare for college expenses. In this session, panelists will explore various strategies at the state and federal level for increasing college savings and making college more affordable for all Americans.
Speakers: Don Baylor (Center on Public Policy Priorities), Kathie Little (College Board) and Deborah Wilds (College Success Foundation)
Moderator: Andrea Levere (CFED)

What motivates families to save for their children’s futures? What are the facilitators of and barriers to saving? What kind of savings products and features can help families reach their savings goals? In this session, panelists will draw on research from the SEED Initiative and similar efforts to promote children and youth savings to explore these and other questions related to savings behavior.
Speakers: Irene Skricki (Annie E. Casey Foundation), LeAnn Wittman (University of Kansas)
Moderator: Ida Rademacher (CFED)

More and more cities are beginning to explore the potential of matched savings accounts for children and youth as a tool for community economic development, long-term asset building and child development. This session will provide an overview of the growing momentum behind municipal children’s savings initiatives, the opportunity that they represent to connect children and families with a range of asset-building strategies, and early lessons from cities pioneering the concept.
Speakers: Dennis Campa (City of San Antonio) and Jennifer March-Joly (Citizen's Committee for Children of New York)
Moderator: Leigh Tivol (CFED)

This session addresses the intersection between saving and entrepreneurship for children and youth. Participants will learn effective ways that youth can save in order to establish and grow their own businesses, as well as build their savings through business income. Panelists will discuss a range of out-of-school approaches to linking saving and entrepreneurship and creating an integrated asset-building strategy.
Speakers: Shay Smith (Cherokee Nation) and Kim Tilsen-Brave Heart (SAGE Collaborative)
Moderator: Kim Pate (CFED)

Research indicates that greater household wealth in early childhood increases chances of high school completion and college enrollment, even when controlling for a number of influential variables. This session will bring together practitioners and researchers from the early childhood development field and the SEED Initiative to discuss how asset building strategies, such as children’s development accounts, can complement other programs and policies geared toward increasing the financial security of children and families in the early years.
Speakers: Kinsey Dinan (National Center for Children in Poverty at Columbia University’s Mailman School of Public Health) and Trina Williams (University of Michigan)
Moderator: Susan Mosqueda (OLHSA)

Schools can play a major role in helping students develop critical life skills and acquire basic knowledge as they move into adulthood. This session will highlight successful school-based models that integrate a number of related financial education activities into the school day, such as engaging in entrepreneurial training, developing financial literacy skills, opening savings accounts and even creating a student-run bank. Participants will also learn about the opportunities and challenges of integrating savings strategies and financial education in different school settings.
Speakers: LaKia Williams (Capital One) and Andre Williams (People for People)
Moderator: Rochelle Watson (CFED)

Research has shown that savings and financial education can help high school youth achieve increased fiscal prudence, financial security, future orientation and self-esteem – all important elements as they make the transition into adulthood. In this session, participants will learn about several youth-friendly models for incentivizing saving and teaching financial and other life skills, such as college readiness and employment training. In addition, attendees will hear about the challenges and opportunities of providing matched savings accounts to youth, particularly when trying to do so at scale.
Speakers: Ed Scanlon (University of Kansas) and Maria Sison (Juma Ventures)
Moderator: Carl Rist (CFED)

Youth in foster care face serious challenges in achieving financial stability, particularly once they age out of the foster care system. Matched savings accounts can be an essential tool to help these young people learn financial skills and transition successfully to independence. This session will highlight the experiences of large-scale savings programs that are serving significant numbers of youth in foster care. Speakers will share their perspectives on effective program delivery strategies for foster youth and other displaced youth, the power of public-private partnerships, and public policy opportunities.
Speakers: Kippi Clausen (Mile High United Way) and Dominique Jones (NYC Administration for Children’s Services, Office of Youth Development)
Moderator: Brandee Mchale (Citi Foundation)

While the current economic and fiscal environment makes the passage of a national children’s savings policy more challenging over the next couple of years, there are also a number of efforts underway to expand proven models and deliver matched savings accounts and financial education for children and youth on a larger scale. One promising opportunity is to work with secondary schools to integrate college savings, academic and financial counseling and financial aid with the goal of increasing the aspirations, achievement and graduation rates of low-income and minority students. Another opportunity is to work with private financial institutions to develop innovative savings products and services that can reach more and more children. In this closing session, hear about these and other opportunities for advancing children and youth savings and learn about the role of coalitions in building and maintaining momentum, even during a recession.
Speakers: Pam Flaherty (Citi Foundation), Michael Lomax (UNCF) and Bob Friedman (CFED)
Moderator: Andrea Levere (CFED)