The Silicon Valley Chapter of the FPA has partnered with Santa Clara County, Department of Family & Children Services and a Community Partner, to present a financial literacy training program for foster youth transitioning out of Foster Care. The program is part of the California Connected By 25 Initiative.

FPA volunteer members have contributed to the success of the financial literacy curriculum and its evolving message. The collaboration, which has been in place since 2007, assists in organizing the training and identifying new FPA volunteers to teach the program. Each training session consists of two days of activities to develop fundamental financial skills including asset building, budgeting, credit understanding, differences between a bank & a credit union and how to save money. The interactive learning, as well as practical hands-on exercises, assist the foster youth to purchase an allowable asset that they can utilize to better their financial present & future.  At the end of the workshop, each participant has the opportunity to open an IDA (Individual Development Account) where savings are matched dollar for dollar up to $1000 for a period of 3 years. In 2009 the program began offering evening seminars on more advanced financial literacy topics to foster youth that had already attended the two day program.

California Connected by 25 Initiative

A partnership of the Annie E. Casey Foundation Family to Family Initiative

William and Flora Hewlett Foundation * Walter S. Johnson Foundation

Charles and Helen. Schwab Foundation * Stuart Foundation

Foster Youth Success Stories

Shane built his Savings/IDA to over $3M since he participated in the workshop in January 2007.

Diane participated in the June 2007 two day workshop. Her FICO score at that time was 529 and as of August 2008 has increased to 655. She also built her IDA/Match Savings to $960.00 by banking her monthly savings of $80.00 per month, as she outlined at the training.