NE Florida Counts :: Promising Practices :: Banking on Our Future: Financial Literacy Education for Youth

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An Effective Practice meets the following HCI criteria:

1. The program description includes at a minimum: the sponsoring organization, program goals, program implementation steps, and outcomes that have demonstrated program success and/or promise in achieving the program goal in one or more localities.

2. The results from an evaluation of the program include quantitative measures of improvement in outcome of interest (i.e. increase in voter registration, not just delivery of voter registration drive) and/ or the outcome measure is increased or improved compared to the baseline measurement or the control group but the difference is not statistically significant.

Banking on Our Future: Financial Literacy Education for Youth

Ranking	Effective Practice
Description	Operation Hope Inc.'s Banking on Our Future (BOOF) program began in 1996. BOOF provides year-round ﬁnancial literacy education for youth ages 9 to 18 at no cost to school districts, and it focuses primarily on urban, underserved communities. Volunteer Hope corp members teach the program's four modules: (1) The Basics of Banking, (2) Checking and Savings Accounts, (3) The Power of Credit, and (4) Basic Investments. The curriculum breaks down knowledge of banking and credit into terms that youth can understand. BOOF's ﬁnancial literacy instruction is provided through face-to-face classroom presentations and an interactive computer program, http://www.bankingonourfuture.org.
Goal / Mission	The mission of the Banking on Our Future (BOOF) program is to execute a global delivery system for financial education for youth ages 9-18 at no cost to school districts, with a focus on urban, under-served communities.
Results / Accomplishments	Currently, BOOF is being implemented in 18 cities nationwide: Since the program's inception, more than 186,000 youth have received BOOF instruction in almost 500 schools and 200 community-based organizations. In a 2004 formal evaluation of the BOOF program, researchers administered pre- and post-tests to a random sample of students in grades four to eight. They found that more than 50 percent of the students made signiﬁcant gains in ﬁnancial literacy skills and concepts.
Categories	Economy / Investment & Personal Finance
Organization(s)	Operation Hope Inc.
Source	Finance Project
Date of Publication	Dec 2006
Date of Implementation	1996
Location
Primary Contact	Emily Ausbrook Banking on Our Future 3062 East 9th Street Oakland, California 94601 (415) 282-8348 emily.ausbrook@operationhope.org http://www.operationhope.org
For more details	http://www.financeproject.org/publications/Stra...
Target Audience	Children
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