Learning how to manage and save money is an important developmental milestone for adolescents. Most young people learn these skills in a permanent family. Opportunity Passport™-- one component of the comprehensive Jim Casey Youth Opportunities Initiative – is designed specifically to help youth transitioning out of foster care develop these skills and move them toward becoming financially stable young adults.
As the Jim Casey Initiative grantee in Iowa, the Youth Policy Institute of Iowa (YPII) manages the Opportunity Passport™ program in the Des Moines area, and has recently expanded services in partnership with the American Home Finding Association in Ottumwa. The program provides financial literacy training, connects eligible youth to mainstream banking, and matches participants savings $1 for $1 up to $1,000 per year when they purchase an approved asset that will help them transition successfully to adulthood. Eligibility criteria and other details about the program can be found in this Fact Sheet.
Since launching Opportunity Passport™ in Des Moines in 2004, YPII has enrolled nearly 500 young people in the program with the help of numerous partnering organizations. Key local financial support is provided by United Way of Central Iowa and the Principal Financial Group Foundation. Greater Iowa Credit Union is our financial partner.