Young Entrepreneurs Program

Young Entrepreneurs Program
Student Credit Union - A Savings Habit

“When a child saves a single coin, it does not represent very much, but when a child saves a few coins, it begins to represent something very different – a choice.”
— Jeroo Billimoria, Founder, Aflatoun

Young Entrepreneurs Program (YEP) – An elementary school program that teaches financial education, entrepreneurship and philanthropy to children from families with limited financial resources.

Program Description
The mission of YEP is to show children that money comes with possibilities, not just problems. The curriculum engages children with lessons that include saving, setting goals, budgeting, small business development and philanthropy. Students come away from the program with access to a savings account, the experience of a weekly savings habit at their school credit union, and the feeling of empowerment through financial education. Students meet weekly to talk about their experiences and attitudes around money in a safe and supportive environment. They collaborate on ways to raise money in order to meet their goals of spending within their budget, saving regularly and sharing with their community. Through this dynamic hands-on approach, students become active agents of change for themselves, their family and their community. Here, they not only become financially literate, but begin to understand a future-oriented and community-minded approach to the world.

YEP Entrepreneurial Projects
•    Holiday greeting cards
•    Calendars featuring student artwork
•    School-wide bake sale
•    Recycling and bottle return drive

YEP Philanthropy Recipients

Tompkins County SPCA • Doctors Without Borders • American Red Cross
Philanthropy connects students to real situations and real people (or animals!). Students decide what organization to donate to and how much of their profits to use. They don’t just send a check. They either visit the organization or receive a guest speaker who talks about the work their money is supporting.

YEP Successes
•    Improved behavior and social skills at school
•    Students started saving extra money from home in addition to their business    profits
•    Student overheard talking about selling hot chocolate on her own to buy her grandmother a gift
•    Student who initially was not interested in college changed her mind at the end of the program

About Lauren and YEP
YEP was created by Lauren Samuelson in the fall of 2009 as part of her AmeriCorps VISTA (Volunteers in Service to America) project for Alternatives Federal Credit Union. The program was originally designed to help children from families with limited financial resources earn money so they could participate in our elementary school savings program. The unexpected results of the program (better behavior in school, increased self-esteem, improved social skills, positive perception of their own future, etc.) led Lauren to evolve YEP into a successful financial education leadership and community-building program.   

Lauren came to Alternatives after graduating from William Smith College with a degree in public policy.  She notes happily that she knows more people in Ithaca under the age of 12 than over, and when she’s not teaching kids how to save money she enjoys playing softball and volleyball with her colleagues at Alternatives!