Colorado Children Learn the Importance of Saving for the Future
Ascend Fellow and Colorado Department of Human Services Executive Director Reggie Bicha, center, speaking at the Aspen ThinkXChange in October, 2012.
Two-generation strategies are being implemented across the state of Colorado, and a new project is in the works which illustrates the impact that can be made statewide and in local communities.
My fellow Ascend colleague Andrea Levere, President of the Corporation for Enterprise Development (CFED), and I have partnered to conduct a joint feasibility study, and design a project to launch a Children’s Savings Account and financial education pilot in Colorado.
This two-generation project will extend the opportunity for savings, investments and financial education to low-income families across the state. The pilot will be the first example in the nation of a state government integrating Children’s Savings Accounts into a Human Services Department. Funding for the design and feasibility study of this project was made possible by a grant from Ascend at the Aspen Institute.
Providing Colorado children and families with the education and supports needed to be more fiscally savvy and better prepared to save money will lead to improved financial stability in the future – not only for these families, but also for Colorado’s economy.
This is just one of the many examples of two-generation strategies that are being implemented at CDHS, as the state works to engage families in tangible, innovative ways. Through collaboration with Ascend, county government and business partners, we are working to ensure that children and families in Colorado are safe, healthy and have the services they need to succeed and thrive.