“The people who need financial education more than any others are often the least likely to receive it,” said MAIA co-founder, Michael Gilmore, “leading to worsening environments and them even becoming victims of predatory behaviour. It’s why we created a specific award for projects working in under-served communities, because they are addressing such a huge unmet need.”

The Young Investors Society (YIS) Access Initiative provides free high-quality financial education, mentorship, STEM career education, and scholarships to high school students in under-resourced communities. It is making such a difference in the communities it operates that it won a MAIA!

Christine Tobin, the Chief Operating Officer at YIS, says, “We provide financial literacy education to students who otherwise would not have access to finance programs due to demographics, income levels, and other socio-economic disparities among communities. Our goal is to increase minorities and women in finance and STEM careers and empower youth to take an active role in their financial future.”
The programme consists of over 30 45-minute lesson plans to help students learn the basics of investing, personal finance, economics, and accounting. The YIS courses are free to students and teachers at Title 1 schools and under-served communities internationally.

“Our lessons include online interactive activities, engaging presentations, and curriculum-supporting YouTube videos. These are combined with peer-led activities focused on financial literacy lessons that emphasise the importance of saving and investing for the future,” Tobin explains.

The personal finance lessons include earning money, saving, budgeting, banking, investing, and career exploration. There are also various enrichment program offerings throughout the year.

“The course enables students to apply observational, practical, modelling, inquiry, and problem-solving skills in finance-related coursework. They can also participate in the Start Investing NOW, Learn & Earn, Dollar-A-Day Challenge, Shark Tank Contest, Stock Pitch Competition, CYIA Designation and our newest CFA Investment Foundations Program,” Tobin says.

However, Tobin is quick to point out that the YIS Access Initiative only promotes sensible and low-risk approaches to investment.

“YIS teaches a long-term investment strategy to students to save and invest for their future. It doesn’t support high-risk behaviour or short-term investment strategies. Our supporters and sponsors must have a reputation of reliability and must ensure that they adhere to the YIS mission and guidelines.”

The programme currently serves over 8,300 students in almost 1,300 schools in America and 24 countries worldwide. Studies have shown that students in underserved communities lack basic financial education; consequently, a higher proportion remains trapped in poverty.

“Financial knowledge is lacking in schools generally, with only a third of high schoolers passing a basic financial literacy test. However, the figures and outcomes are worse for some communities. After participating in the YIS Initiative, the pass rate for our students is an incredible 90%,” Tobin says.

“We believe that when youth are empowered by financial literacy, they can become outstanding investors in companies, societies and themselves, thus achieving financial independence and breaking the cycle of generational poverty.”

MAIA co-founder Michael Gilmore added, “Unfortunately, through no fault of their own, some people just don’t have access to financial education. Programmes like the Young Investors Society Access Initiative help rectify that and provide an invaluable opportunity to become financially literate and shape their future.”

If you want to learn more about The Young Investors Society (YIS) Access Initiative, you can find out more on their website. Or you could email us at michael@maiawards.org.