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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Financial Institution Letters

FIL-13-2017
March 28, 2017

FDIC Releases Report on its Youth Savings Pilot and Launches New Network to Support Youth Savings Collaborations

Printable Format:

FIL-13-2017 - PDF (PDF Help)

Summary:

The FDIC released a report on its Youth Savings Pilot program, which identifies promising approaches to combining financial education with the opening of safe, low-cost savings accounts for school-aged children. The report from the FDIC's two-year Youth Savings Pilot is based on the experiences of 21 diverse participating banks. The report describes promising practices banks can use to develop or expand their own youth savings programs. Banks are invited to join the Youth Banking Network if they are interested in information resources to support their school-based savings initiatives.

Statement of Applicability to Institutions under $1 Billion in Total Assets: This Financial Institution Letter applies to all FDIC-insured institutions.

Highlights:

Distribution:

Suggested Routing:

Attachments:

Contacts:

E-mail:

youthsavingspilot@fdic.gov

Note:

FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's website at https://www.fdic.gov/news/news/financial/2017/.

To receive FILs electronically, please visit https://www.fdic.gov/about/subscriptions/fil.html.

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

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