NBA Players Are Opening Up One Million Savings Accounts For Black And Brown Children

It is always good to see athletes using their money and fame to promote good causes. And a handful of NBA players are teaming up with mobile banking app Goalsetter to help minorities learn how to save money.

As part of the Black History Month, the company aims to launch savings accounts for one million Black and Brown children. Athletes will each “draft” (or choose) 100 children and deposit $ 40 in savings accounts set up by Goelseater. NBA players such as Chris Paul and Harrison Barnes are joining in to support the cause, as are WNBA, MLB and NHL players.

Paul drafting kids From the 61 Leadership Alliance in Winston-Salem, North Carolina. And Barnes went above and beyond – They drafted 500 children From Bild Black in Sacramento and TL Marsalis Elementary in Dallas.

Rob Care / Getty Images

Barnes tweeted that children with savings accounts are six times more likely to go to college. If the goalsetter reaches the goal of one million savings accounts, they would have contributed $ 40 million to the college fund.

In a statement, Paul expressed the importance of financial literacy and education:

“Black History Month reminds hundreds of years that Black people have been a labor force and consumer class in America. This partnership is about learning from our history to create a strong future that prepares the next generation of Black and Brown children It does. Being a saver and investor. Financial education is an essential and important component to creating a common America. “

The campaign is dedicated to 1865 “Resolution of 40 acres and a mule“- promising the land of newly freed slaves. Andrew Johnson, who was president at the time, overturned the order.

Deposits are FDIC insured and can be routed to a MasterCard-backed Cashola debit card. And hopefully, it will set a lot of children up for financial success.

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