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Inactive Financial Institution Letters

August 4, 2014

FDIC Announces Youth Savings Pilot Program



FDIC-insured institutions are invited to apply and participate in the FDIC's Youth Savings Pilot Program, which seeks to identify and highlight promising approaches to offering financial education tied to the opening of safe, low-cost savings accounts for school-aged children. The first phase of the pilot is open to institutions currently working with schools or nonprofit organizations that help students open savings accounts in conjunction with financial education programs. The second phase is expected to target new programs that begin during the 2015–16 school year. Pilot participants will be connected with other participants and technical assistance resources to develop and share best practices. Upon completion of the pilot, the FDIC intends to publish a report to provide financial institutions with best practices on how to work with schools or other organizations to combine financial education with access to a savings account.

Statement of Applicability to Institutions with Total Assets Less Than $1 Billion: This Financial Institution Letter (FIL) applies to all FDIC-insured institutions.



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FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at

To receive FILs electronically, please visit

Paper copies may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (877-275-3342 or 703-562-2200).