1:1 Fund Teams Up with New Social Savings App, Kidfund, To Expand College Savings

Prosperity Now’s 1:1 Fund has joined with the new social savings app, Kidfund, in a cause-marketing partnership that will generate more funds to match the contributions of young savers in Children’s Savings Account (CSA) programs. Through Kidfund, parents can open savings accounts for their kids, set automatic recurring transfers, and enable friends and family to send gifts to their kids—all with a tap on their phone. Kidfund helps families seamlessly build a nest egg as their kids grow, empowering children with the love and support of family and friends and equipping them with financial knowledge and good savings habits.

Parents can do more than just set up CSAs for their children with the “Save Some, Give Some” feature, which enables Kidfund users to direct a percentage of their contributions to the 1:1 Fund's National Match Pool in the form of a charitable donation. The National Match Pool provides additional savings incentives to the 1:1 Fund’s 16 partner organizations across the country, helping build kids’ savings in San Francisco, California; Jackson, Mississippi; and nearly a dozen other cities and towns across the US.

For example, a mother can open the Kidfund app on her phone, see her daughter Kayla’s savings account, and designate that 5% of the total funds coming into Kayla’s account goes to the 1:1 Fund. So, if Kayla receives a $50 birthday gift from her uncle, $47.50 will go to her savings account, and the remaining $2.50 will go to the 1:1 Fund’s National Match Pool. As a result, Kayla’s uncle helps his niece and a child from a low-income family save for college, while also sharing with Kayla the joys of helping others.

Spread the word, spread the wealth: Prosperity Now and Kidfund are helping families save!

During the holiday season, Kidfund is helping users make the gift of savings go even farther with three promotions:

  1. Extra Special: Kidfund is offering members of the Prosperity Now Community a $5 bonus for their Kidfund account when you download the app and make your first deposit.  
  1. Referral Bonus: Parents who invite friends via the app receive a $5 bonus in their kids’ accounts when friends start to save. There’s no limit to how many referral bonuses a kid can receive.
  1. Holiday Gift Idea: Just in time for the holidays, Kidfund has launched a new “Give the Gift of Savings” feature. This feature enables users to pledge a gift to anyone’s child, which the child will receive when they open a Kidfund account to start saving.

The Kidfund app is free and available for download in the Apple App Store. The funds are held with USALLIANCE Financial in convenient, secure individual savings accounts that are federally insured up to $250,000 and offer an attractive 3% interest rate on the first $500.

Spread the word, spread the wealth: Prosperity Now and Kidfund are helping families save!

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