NBA Stars Open Savings Accounts for Black and Brown Youth
February 2, 2021
Chris Paul, Jaylen Brown and Harrison Barnes are among the NBA players who have partnered with Goalsetter, an app that teaches kids and teens financial literacy. In celebration of Black History Month, participating players will select a minimum of 100 Black and Brown kids to receive a Goalsetter savings account with a $40 deposit.
The campaign aims to onboard a million youth with Goalsetter accounts. Players have posted their commitments on social media and challenged others to support the cause. On his Instagram, Barnes said he opened accounts for 500 kids from Build Black in Sacramento and Thomas L Marsalis Elementary School in Dallas.
The $40 deposited into each account is a nod to “forty acres and a mule,” a phrase based on the U.S. Army’s 1865 order that aimed to give no more than 40 acres of seized Confederate land to some freed slaves. Goalsetter has partnered with the NBPA to launch its “Drafted” initiative, which kicked off with Paul drafting 100 kids from his hometown of Winston-Salem, N.C., to join the financial app.
“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,” Paul, the Phoenix Suns point guard and NBPA president, said in a statement.
Goalsetter’s banking app lets users participate in weekly financial literacy quizzes and games. Anthony Tolliver and retired NBA star Baron Davis have also drafted kids for the program. Goalsetter was founded by Tanya Van Court, a former media executive at ESPN and Nickelodeon.