NEWS & PUBLICATIONS

Publications

Financial Coaching for Youth and Young Adults – The Professionalizing Field of Financial Counseling and Coaching: A Journal of Essays from Expert Perspectives in the Field (May 2016).

In this essay, Executive Director Margaret Libby shares the critical design and delivery elements of the tested MyPath Credit model, which combines financial coaching, credit-building and saving for low-income young adults. Ms. Libby presented the essay highlights during The Cities for Financial Empowerment Fund’s Professionalizing Field of Financial Counseling and Coaching Conference on May 5th, 2016 in in New York City. A paper from University of Georgia researchers on its early results and lessons is forthcoming.

Boosting the Power of Youth Paychecks: Integrating Financial Capability into Youth Employment Programs – Federal Reserve Bank of San Francisco (April 2016).

The first experimental design study conducted on a youth financial capability model in the country, Boosting the Power of Youth Paychecks: Integrating Financial Capability into Youth Employment Programs, was published by the Federal Reserve Bank of San Francisco in partnership with MyPath and Vernon Loke of Eastern Washington University. Two scalable versions of MyPath Savings were tested against a comparison group. Both treatment groups received an in-person orientation, two accounts, direct deposit, a savings contract, and three online, money management modules. In addition, one treatment group also had Peer Coaches trained to lead in-person activities and discussions related to the online content. Both models produce powerful outcomes, increasing youth financial capability, including banking,saving, and money management. Adding Peer Coaches boosts financial knowledge gains, and is best suited for programs with longer durations.

QUICK SNAPSHOT of Boosting the Power of Youth Paychecks: Integrating Financial Capability into Youth Employment Programs – MyPath (April 2016).

This two page overview highlights the key outcomes from the MyPath Savings study, including 97% of participants engaged in bank accounts; 100% set MyPath Savings goals; 96% met their MyPath Savings goals; and statistically significant differences in financial confidence between treatment and comparison groups. The addition of Peer Coaches to the MyPath Savings model boosted some outcomes.

Partnerships for Financial Capability Brief – Center for Financial Services Innovation and the National Federation of Community Development Credit Unions (September 2015). 

This brief highlights the power of integrating credit products and financial coaching into workforce settings for low-income youth and young adults. MyPath is grateful to the National Federation of Community Development Credit Unions, Center for Financial Services Innovation, and the Kresge Foundation for supporting MyPath Credit, as well as Self-Help Federal Credit Union, for its partnership offering youth-friendly credit products.

Increasing Youth Financial Capability: An Evaluation of the MyPath Savings – The Journal of Consumer Affairs’ Special Issue on Starting Early for Financial Success (February 2015).

We co-authored this paper together with our outside evaluators from Eastern Washington University, the Federal Reserve Bank of San Francisco and the Center for Social Development. The article focuses on the pilot results of our MyPath Savings model, highlighting new data analysis– in addition to statistically significant changes in financial behaviors, MyPath improves youth self-efficacy, future outlook and confidence.

Increasing Financial Capability among Economically Vulnerable Youth: MyPath Pilot and Year Two Updates  – The Federal Reserve Bank of San Francisco (December 2013).

The success of our MyPath Savings program pilot in San Francisco was showcased in this Working Paper published by the Federal Reserve Bank of San Francisco’s Center for Community Development Investments, which garnered attention from President Obama’s Advisory Council on Financial Capability.

The Power of Credit-Building – Credit Builders Alliance & Asset Funders Network (2014).

MyPath Credit’s innovation and promise were highlighted in this national paper, which showcases the importance of both building and rebuilding credit with low-income populations. MyPath Credit was featured as the only such program serving youth in the United States.

Building Financial Capability in Youth Employment Programs –  Report by Consumer Financial Protection Bureau (2014).

MyPath Savings was featured in this national paper highlighting best practices in integrating financial capability into youth workforce settings. The paper summarized the outcomes of a national convening held in Washington DC in late 2013 sponsored by the CFPB and Department of Treasury.

News

MyPath Credit youth participants created this video to share as MyPath Credit received an Innovation Award during the Credit Builders Alliance’s July 2016 Credit Building Symposium.

Financially Empowering Young Adults via MyPath – National Credit Union Foundation’s Murmurings (February 2017). On this podcast, Founding Executive Director, Margaret Libby, discusses how, by working with credit union and workforce partners, MyPath financially empowers young adults with financial education, goal setting, money management tools and saving and credit-building products.

Can we increase financial inclusion through nonprofit-powered fintech?Aspen Institute on Medium (December 2016). MyPath joins five leading nonprofit organizations to form the nonprofit Leaders in Financial Technology (nLIFT) to enhance our collective work to advance financial inclusion using innovative technology.

Alliance CU Helps 300 Youth Open Checking Accounts – CU Today (November 2016).

That Moment When Your Research Breaks Through What Financial Providers Need to Know About Young Adults – CFSI on Medium (August 2016).

That First Paycheck Is an Exciting Moment … And A Teachable One – NPR Special Series on Social Entrepreneurs  (July 2016).

Savings and Credit Building Can Be Integrated In Youth Employment ProgramsFederal Reserve Bank of Philadelphia’s  Summer 2016 Cascade Issue on Workforce Development Strategies for Youth Financial Capability (June 2016).

American Innovation Can Narrow the Opportunity Gap for Kids Huffington Post Blog  (May 2015). MyPath was recognized for its impact and scale.

Money Watch Teen Savings Program Channel KTVN 2 (July 2014).  KTVN’s Money Watch series featured MyPath Savings in Reno, Nevada. In partnership with Schwab Bank, Wells Fargo Bank, and United Federal Credit Union, MyPath launched MyPath Savings in Reno with five youth-serving agencies in 2014.

Program Teaches Low-income Reno Teens How to SaveNPR  KUNR FM (November 2014).

Financial Literacy Program for Low-income Teens Expanding in Reno– NPR KUNR FM (December 2014).

Jovenes de MyPath Advocates (antes  New ERA) asesoran a la comunidad sobre Payday LoansAl Dia Con Leticia Mendoza (October 2013).

Credit Union in the Mission Caters to Kids  – ABC 7 News Segment (June 2010).

At a Center for Financial Services Innovation-sponsored briefing in 2012, MyPath Executive Director Margaret Libby introduces Congressional representatives to MyPath Savings, its impact and the related policy implications.

Awards

Credit Builder Alliance 2016 Most Successful Credit Building Initiative – Honorable Mention ● California Asset-Builder Coalition’s 2014 Practitioner of the Year Award ● Credit Union National Association’s Desjardin Youth Financial Education Award for California and the U.S. ● San Francisco Mayor’s Office of Economic and Workforce Development’s 2012 Innovation Champion

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