Executive Summary
Chicago ABCs will build on two recent public commitments - Illinois’ new universal child savings accounts (CSA) and the City of Chicago’s Family Connects visiting nurse program – to drive economic opportunity for 4,600 financially vulnerable families with additional transformational CSA deposits of $500 to $750 and cash transfers of $50 each month over 18 months. Cash transfers and home visiting programs are proven strategies that provide families immediate and direct financial, emotional, and physical support when a child is born. CSAs are powerful tools that invest in a child’s future career path. When combined, they provide investment and hope to families both now and in the future, creating a web of support from a child’s first days and propelling them through adulthood.
Charity, fund, non-governmental organization, religious institution, school, or other entity
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Accomplishments
While each of the Chicago ABCs partners have made progress in developing individual elements of the proposed partnership, as a group we continue to seek funding for the partnership, which will interweave the elements for a truly comprehensive, dual-generation approach to wealth-building.
