NBA Star Chris Paul Launches Month-Long Initiative to Draft One Million Kids Into a Path of Financial Freedom and Generational Wealth.
NBA Star Chris Paul and Goalsetter, a Black-owned kids and family finance app that provides a next-generation, education-first banking experience for U.S. kids and teens, today announced a full-court press initiative to “draft” 1 Million Black and Brown kids to become the next generation of savers and investors, kicking off during Black History Month.
The initial round of the “Drafted” campaign will tip off on February 1 with NBA star and NBPA president Chris Paul “drafting” 100 kids who participate in his Club 61 Leadership Alliance from his hometown of Winston-Salem, North Carolina, and then passing the ball to notable NBA players and leaders Jaylen Brown, Harrison Barnes and Anthony Tolliver, and retired NBA Star Baron Davis.
Each player will draft a minimum of 100 kids who will receive $40 each for their respective savings accounts as a historic nod to “40 acres and a mule”, a phrase that evokes the Federal government’s failure to redistribute land after the Civil War and the economic hardship that African Americans suffered as a result.
Each time a player drafts a group of students, they will ask “Who’s Got Next?” and challenge other fellow professional athletes from the major sports leagues to participate, including NFL, NHL, WNBA, and MLB players. These players will then, in turn, challenge celebrities (Sterling K. Brown, “This is Us”), activists (Tamika Mallory, Founder of Until Freedom), community organizations (YMCA of the USA), and corporations (UBS & Sterling National Bank), along with a cohort of HBCUs, K-12 schools, and faith-based organizations, each of whom will use a day in February to “draft” students to save and learn about money early.
Each selected student will receive:
- A savings account through the Goalsetter app
- A deposit of $40 in their individual FDIC insured Goalsetter accounts
- Weekly fun financial literacy quizzes designed for kids that are culturally relevant
- A Cashola Card (the Goalsetter tween and teen debit card backed by Mastercard) that has game-based financial literacy quizzes attached to it.
“Our mission is to empower the youth of today to fulfill their dreams of tomorrow, and we couldn’t think of better partners to amplify the message of empowerment and achieving goals than these NBA players, who are leaders both on and off the court,” said Goalsetter founder & CEO Tanya Van Court. “Every kid in America needs financial education to achieve success. Goalsetter’s smart banking app puts financial education front and center, and the NBPA’s players are bringing that financial education to families on their home courts all across the country.”
This innovative movement is supported by the NBPA and its members, who are committed to helping today’s youth achieve financial freedom, and is based on research from leading educators that shows that children with savings accounts (regardless of the amount invested) are 6x more likely to go to college, and 4x more times more likely to own stocks as young adults.
“Our players have already started engaging with Goalsetter and using it with their own families,” said Que Gaskins, Chief Brand & Innovation Officer at the NBPA. “We are excited about this opportunity to support them and to work with Goalsetter to spark this movement around financial literacy for kids all over the country.”
Goalsetter, a leading mobile banking app for kids and teens, has been featured on SharkTank, and was developed using Van Court’s experience as a former Nickelodeon and ESPN executive.
Goalsetter uniquely engages kids from all different types of backgrounds in understanding how to build wealth and learn financial language by offering savings accounts coupled with fun, quiz-based games that are developed using memes and GIFs from hip-hop artists, social media influencers, and pop culture personalities.
“Ninety percent of wealthy families lose their wealth by the third generation and seventy percent of middle-class Black kids are projected to fall out of the middle class as adults. Every family in our country needs tools that make financial education fun for kids, and Goalsetter couples real-world banking with games that teach the key principles of saving, investing and building wealth,” says Van Court.
“Black History Month is a reminder of the hundreds of years that Black people have been a labor force and a 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 kids to be savers and investors. Financial education is a necessary and critical component of creating an equal America,” said NBPA President Chris Paul.
As a family saving, financial literacy and smart spending app, Goalsetter makes it easy for the whole family to go cashless and learn how to be money smart. Goalsetter’s smart money app for families includes: FDIC-Insured Savings Account; the Cashola Teen and Tween Debit Card with parental controls, Game-based financial literacy quizzes; “Learn before you Burn” parental control feature on the debit card and the “Learn to Earn” financial reward component. Goalsetter was founded by Tanya Van Court, a former Nickelodeon and ESPN executive. Click here to learn more about Goalsetter’s robust app and offerings. For more about Drafted, visit drafted.goalsetter.co.
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