Economis
Even though they provide programs and services to youth in one of the lowest socioeconomic areas in the city, Central Ohio Youth for Christ (COYFC) doesn’t believe in giving handouts. Instead, they support initiatives aimed at teaching kids real world solutions to real world problems.
A home away from home for hundreds of at-risk youth in the Franklinton area, COYFC offers programs focused on building self esteem, mentoring, and succeeding in school. In 2006 COYFC developed Economis, a web-based financial literacy package that allows youth to earn credits, make purchases, buy stocks, and make charitable contributions online. The program stemmed from a need to educate young people about money management before they make poor financial decisions. These decisions, even early on in their lives, could continue the cycle of poverty so many have grown up in.
“Through Economis, we’re trying to give kids experience in a hands-on way that helps,” said Scott Arnold, executive director of COYFC. “Our goal is to give them a perspective on basic economics, how you earn, save and invest money.
The program works with youth ages 10-18 primarily from the Franklinton area. The majority lives below the poverty level in single-parent homes where no family member holds a checking account or has a credit card.
All students take part in an “Introduction to Economis” class that helps them learn the basic tools of navigating an online checking and savings account. They are each given a swipe card, similar to a debit card, which is used throughout the program.
Students earn credits by participating in programs and activities at COYFC’s City Life Center. Some of the programs include training in career and life skills, and specific job training in industries like auto mechanics and cooking. Others earn credits by participating in open gym activities or clubs at the middle-and high-school levels.
One of the greatest challenges COYFC has faced is maintaining incentives in the system. They want to continue to offer items that are valuable, as it increases the likelihood of participants saving for something they really want.
A $3,500 grant from The Columbus Foundation was awarded to Central Ohio Youth for Christ to support the Economis program.
“The kids we work with have embraced the Economis system,” Mr. Arnold said. “It has been a real win for all who have participated.”
YOUR SUPPORT COUNTS
Your gift or grant will help COYFC purchase additional incentive items to be used in conjunction with the Economis program.
The Budget
The annual budget for Economis is approximately $20,000.
Additional Partners Include