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Child Savings Accounts: Global Trends in Design and Practice

This paper provides an overview of Child Savings Accounts (CSAs) around the world; a summary of reasons why governments, financial institutions, and non-profits are offering CSAs and features of the accounts they offer; and a few of the obstacles these institutions face to successfully offering CSAs.

Authors

Jeff Meyer, Jamie M. Zimmerman, and Ray Boshara, Global Assets Project of the New America Foundation

Abstract

Child Savings Accounts (CSAs) exist as policies, products, and programs, and are being offered by governments, financial institutions, and non-profits. This paper aims to provide an overview of the landscape of CSAs around the world; a summary of reasons why governments, financial institutions, and non-profits are offering CSAs and features of the accounts they offer; and a few of the obstacles these institutions face to successfully offering CSAs. By examining the breadth of CSAs as well as the areas of overlap between features of and rationales for CSAs currently offered by various institutions, we hope to illustrate some global trends in CSAs.

Keyword

Child Savings Accounts, CSAs, Rotating Savings and Credit Associations, Self Help Group, Barclays Bank, Financial Literacy, Financial Integration, Young People, Financial System, Children, Children’s Development Bank, Poverty, Equity

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