City of Columbia along with Richland School District One and South State Bank to host Children’s Savings Account PILOT Program (CSA) press conference
October 10, 2017
The City of Columbia Community Development Department in partnership with Richland School District One and South State Bank will host a Children’s Savings Account Pilot Program press conference on Thursday, October 26, 2017 at Watkins Nance Elementary School 2525 Barhamville Rd. at 10 a.m.
The CSA PILOT Program guideline is a brief document to describe all phases of the CSA program that would include all activities, key roles, staffing, partners, communications, cost, quality measurements and outcomes.
The objective of the CSA program is to provide a benefit to low and moderate income areas by improving financial literacy, increasing the number of households that are banked, encourage saving for education, homeownership or retirement, help raise educational expectations and enable children and their families to build college savings.
“Learning to save is one of the most important financial lessons we can teach our children,” said Councilwoman Tameika Isaac Devine. “This program is not just about saving but it also enables the participating families to think about the possibilities.”
Councilwoman Tameika Isaac Devine has been working with City staff to develop a local youth banking initiative.
During the pilot phase of the program, in order to participate in the Columbia CSA program, participants must be enrolled in Richland County School District One Watkins Nance Elementary School’s 5k program based on their school records.
The CSA program will be managed and monitored by the City of Columbia Community Development Department’s “Bank On” Columbia Program Coordinator. Each account will be monitored to see if deposits are being made throughout the year and matching deposits will be made periodically. The Bank On Coordinator will also engage local businesses to contribute to the program as well. Key staff members of Watkins Nance Elementary School will also encourage students and parents to save, participate in financial education and explain the benefits of saving and financial education. South State Bank will assist students and parents with starting a banking account to help initiate the Children’s Savings Account PILOT Program.
For additional information, please contact Community Development Department at (803) 545-3373.
