1st Financial Federal Credit Union (Wentzville) has partnered with the City of St. Louis Treasurer’s Office and the St. Louis Agency on Training and Employment (S.L.A.T.E.) for the Summer Youth Employment and Financial Capability Program.
In January 2013, Tishaura Jones took office as Treasurer; she ran on a platform of improving financial literacy for the highly unbanked City of St. Louis. As part of that measure, Jones' office partnered with S.L.A.T.E. offering free services related to job training, employment and career advancement for the St. Louis area. S.L.A.T.E.’s Summer Youth Employment and Financial Capability Program employ’s eligible youth between the ages of 17 and 23 for up to 300 hours during the summer holidays. These young adults earn a competitive wage while working for City of St. Louis and State parks. As part of the program, 1st Financial was asked to open accounts, set up direct deposit and teach a financial literacy program focused on establishing a savings plan.
"We are excited to partner with 1st Financial Federal Credit Union and S.L.A.T.E. to help teach St. Louis youth how money works,” says Jones. "These youth are the future of our community, and it is our responsibility to teach them how to budget and save, so they can become financially empowered adults who invest in the City of St. Louis."
Because many of S.L.A.T.E.’s participants usually would not qualify for free checking due to their age or lack of credit, 1st Financial created a Youth Summer Employment Account specifically for this program. The accounts promote positive banking habits by eliminating the threat of overdraft fees and encourage ease of access with a VISA Debit Card. The account features include:
“At 1st Financial Federal Credit Union, we are committed to helping the communities we serve and we are honored to be part of a program that truly reflects the credit union philosophy of people helping people,” said Tracy Verner, Brand Ambassador at 1st Financial. “This partnership with The City of St. Louis Treasurer’s office and S.L.A.T.E. embodies our core purpose of helping people achieve their financial dreams through financial literacy and employment resources.”
For more information about S.L.A.T.E. and the Summer Youth Employment Program, please click here.
Caption: Tracy Verner, brand ambassador for 1st Financial Federal Credit Union, leads a financial literacy seminar.