Chris Paul #3 of the Phoenix Suns searches throughout the video game versus the Oklahoma City Thunder on January 27, 2021 at Talking Stick Resort Arena in Phoenix, Arizona.
Barry Gossage | National Basketball Association | Getty Images
Financial tech business Goalsetter has actually released its Black History Month project along with basketball star Chris Paul, who will assist minorities discover how to conserve cash.
Featured professional athletes in the project will each choose 100 youths and deposit $40 into cost savings accounts established on the Goalsetter mobile banking app, the business informed CNBC.
Paul will jump-start the project by preparing kids from the Club 61 Leadership Alliance in his home town, Winston-Salem, North Carolina.
“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,” Paul stated in a declaration. “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.”
Individuals from the National Basketball Players Association, the WNBA, Major League Baseball and National Hockey League will likewise be asked to support the project.
Goalsetter is a mobile banking app that provides peer-to-peer banking deals. Users can likewise put funds on its Cashola debit card, which is backed by Mastercard.
The company revealed a $3.9 million seeding round last month. Paul is among the financiers. Former Nickelodeon executive Tanya Van Court is the creator and CEO of Goalsetter.
In an interview with CNBC discussing its fundraising, Van Court stated the app can assist fight wealth inequality. The app provides conserving lessons through monetary literacy tests. Parents can set the debit card to lock on Sundays if more youthful users have not finished the weekly tests.
The project is committed to the “40 acres and a mule” resolution in 1865, which assured freshly released servants land. Then-President Andrew Johnson later on reversed the order.
“Every kid in America needs financial education to achieve success,” stated Van Court. “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.”
Tanya Van Court, CEO of Goalsetter.
Goalsetter stated accounts with the $40 deposits are FDIC guaranteed. The project is intending to reach 1 million kids.
“Our players have already started engaging with Goalsetter and using it with their own families,” stated Que Gaskins, the NBPA’s primary brand name and development officer. “We are excited about this opportunity to support them and working with Goalsetter to spark this movement around financial literacy for kids all over the country.”