FUNd My Future is a Children’s Savings Account program that rolled out in the fall of 2017 to all students in Allegheny County.
In 2014, Commonwealth partnered with Propel schools to design a CSA program and helped with prize design, marketing materials for families, and legal barriers. In 2017, we again partnered with Propel and many other community organizations to support the expansion of the CSA program, FUNd My Future, from a Propel Schools program to a program that is now available to every child in Allegheny County.
The goal of the program is to help children and their families take practical steps that transform aspirations into reality and build confidence in the future as part of a citywide savings movement.
In order to ensure success of FUNd My Future, we conducted extensive consumer and expert research in order to recommend bank partners, options for infrastructure and technology, and ways to bolster engagement through small-dollar, instant savings. We also designed a prize structure, given their budget constraints, to make the CSA program a prize-linked savings program. We continue to partner with them to evaluate the program’s implementation and make recommendations for on-going improvements.