Opportunity for Existing Year-Round Youth Employment Programs

Criteria for Interested Municipalities Youth Financial Capability

The Consumer Financial Protection Bureau (CFPB) intends to provide technical assistance to approximately 25 geographically diverse municipalities across the country. Municipalities should have existing year-round youth employment programs and have an interest in integrating financial capability into current programs. This is not an opportunity for a grant, contract, sub-contract, or funding. This is an opportunity to receive technical assistance to integrate financial capability services into existing year-round youth employment programs. The submission criteria is detailed below. If you believe your municipality might be a right fit to receive technical assistance send a statement of interest to empowerment@consumerfinance.gov by Monday, April 20, 2015.

Financial Capability is the capacity, based on knowledge, skills, and access, to manage financial resources effectively.
Technical Assistance will include specialized and targeted training to assist municipalities as they work to incorporate the new financial literacy requirements in the Workforce Innovation and Opportunity Act of 2014.

The CFPB will provide the following technical assistance:

• Offer support, tools, and technical assistance to local federally funded workforce systems and municipal officials to integrate age-appropriate financial education, and build partnerships to improve access to affordable financial services for youth jobseekers.
• Provide trainings on youth specific financial capability strategies to staff in municipal and workforce systems.
• Convene program sites to share promising practices and lessons learned. 
• Distribute CFPB financial decision-making tips and tools through local workforce agencies and increase use of CFPB Consumer Response system and other consumer protection tools among youth jobseekers. 
• Share best practices from pilot sites on ways to promote financial capability in youth employment programs across the broader workforce system. 

Criteria for interested communities 

The CFPB will work with approximately 25 municipalities with interest and capacity to integrate youth financial capability into their existing year-round youth employment programs. To be considered to receive technical assistance, letters of interest should include the following:
Target population being served. Serve low-income youth through year-round youth employment programs.
Commitment to youth financial capability. Understand what youth financial capability is and provide an overview for how to integrate services into existing youth-employment programs.
Staff capacity. Provide a dedicated staff person to coordinate youth financial capability services and CFPB technical assistance.
Organizational stability and impact. Demonstrate experience in the community, particularly working with multi-sector partners (government agencies, non-profits, financial institutions) to better serve low-income youth.
Client accessibility. Be accessible to the youth they serve and comply with applicable law governing access to youth employment programs.
Demonstrated need. Serve in communities with high concentration of low-income youth ages 14-24 in unbanked and underbanked households.

For more information go to  http://www.consumerfinance.gov/blog/getting-young-people-on-the-path-to-financial-success/