Directory of Organizations
Mission Community Financial Assistance-Youth Credit Union Program
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Mission Community Financial Assistance's Youth Credit Union Program (YCUP) is owned and operated by youngsters ages 6 to 18. Adults supervise the Union but young people handle the deposits and withdrawals, update passbooks, open new accounts, balance the cash drawer, and more.
Youngsters from San Francisco's low-income Mission District and South of Market Street areas are eligible for YCUP membership. Accounts can be opened with as little as $2 for children ages 6 to 9 or $5 for older kids. As members and operators of the credit union, the youngsters gain front-line experience in saving and investing money. Students learn about running a financial service while developing math proficiencies, business skills and leadership abilities.
With the support of Merrill Lynch, the YCUP program now reaches some 550 youth members with assets of $100,000, eighty percent of whom are from immigrant families with limited resources.
2003 was an exceptional year for YCUP with the opening of two new school-based branches at Visitacion Valley and Horace Mann Middle Schools, the development of a new money management and investment curriculum, and the launch of a new leadership and training module for youth managers. YCUP's school branch model was also adopted as a national pilot by the National Federation of Community Development Credit Unions. In collaboration with IPOŽ Partners, Juma Ventures and the National Foundation for Teaching Entrepreneurship (NFTE), YCUP is also developing plans to offer youth Individual Development Accounts (IDA) and entrepreneurial training.
Merrill Lynch funding supports the expansion of YCUP school branches, and the development of a money management and investment curriculum for student managers..
"My friends at school don't believe me when I tell them I have a job at MCFA-YCUP!"
- Alexia, youth member, age 5
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Contact Information:
Jose Amaya
Program Director
MCFA-Youth Credit Union Program
2940 16th Street, Suite 305
San Francisco, CA 94103
Phone: 415.431.5248
Fax: 415.255.7891
E-mail: jose@ycup.org
Website: www.ycup.org |
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Program Contact Information:
Jose Amaya
Program Coordinator
Phone: 415.431.5248
Fax: 415.255.7891
E-mail: jose@ycup.org
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