00:00And also, we will launch an in-school bank pilot to give students
00:05real-world exposure to banking directly in their schools.
00:10All part of our work, this is what we have done when we are focusing on young people.
00:1615,000 of our young people are part of the Future Ready NYC program.
00:21You look at 100,000 of young people are employed in our summer youth employment.
00:26Many of them are in city agencies, so they're learning how government operates and work.
00:31And 15,000 young people are in our apprenticeship program to learn the basic skills of navigating, of being in an office environment.
00:40And so setting them up for success and not setting them up for failure is our focus.
00:46We have really looked at all the things that our young scholars need to not only be leaders of tomorrow,
00:53but their leaders of today, as we just saw with Jalen, articulate, smart, creative.
00:59All they're asking for, give us the tools to succeed, and we will take you from there.
01:05So I'm excited at this program.
01:07I cannot thank the commission enough for doing this.
01:10She carried it around for nine months, and now you delivered your baby.
01:14Your baby is here, and we're going to make sure that baby grows up strong and healthy.
01:20We're also joined by Pastor who has adopted this school.
01:27One of our local pastors here in the area, he understands that the connectivity
01:32between our faith-based institutions and strengthening of the bonds with our children
01:38is part of the whole aspect of developing their full personhood.
01:43Academic intelligence without emotional intelligence is a failure for the future of our young people.
01:49We want to give them both.
01:51I'm going to turn it over to the amazing commissioner.
01:54Thank you so much, Mayor Adams.
02:00Yes, this is my baby.
02:02Good morning, everyone.
02:04My name is Vilda Vera Mayuga.
02:05I'm commissioner of the most amazing agency, the New York City Department of Consumer and
02:11Worker Protection.
02:13We are so thrilled to be here.
02:16I am so ridiculously just excited to be here at Brooklyn Collegiate as we unveil something
02:22that is, you've heard the mayor said, it is very near and dear to my heart.
02:27It's a new program to financially empower our city's public school students that aptly named
02:33Financial Literacy for Youth, or FLY.
02:36I can't do that.
02:37I can deliver it as well as others, but it's FLY.
02:40It's the way we like to call it.
02:42Our agency, DCWP, has been a long leader in helping New Yorkers make the most of their money.
02:49And since 2008, our financial empowerment centers have helped tens of thousands of New Yorkers improve their credit.
02:58Reducing their debt by more than $120 million, and increasing their savings by more than $13 million.
03:08This is all through our free one-on-one financial counseling services.
03:14But for too long, young people have been left out of our efforts to financially empower our neighbors.
03:21With FLY, we will make sure that our city's children are able to reach for the clouds and soar towards their financial goals.
03:31The mayor said by 2030, every public school student will have access to the tools and resources they need to learn how to save and spend money.
03:42And to get there, we have partnered, DCWP, with NYC Public Schools so that we can see this initiative and do it through an innovative and multi-pronged approach.
03:55As you heard the mayor beginning in January of this year, we're going to have those 15 financial educators in distinct school districts.
04:04They have, they're going to have that specialized training to really deliver on workshops and have experience working with not just the youth but their family to really spur this effort so that we can foster a financially healthy environment for all of our school children.
04:23We anticipate that each of these financial educators will start working with a few schools in each district and then scale up their efforts over time.
04:32And eventually, every district will have a financial educator assigned to it.
04:38And all, every single one of our public school students and their families will have access to these crucial resources.
04:45As you heard the mayor, very excited also at the part two of this piloting in school banking in some of these very same districts with high rates of unbanked households.
04:55We have unfortunately very high rate in New York City, almost 10% throughout our city.
05:00And this will offer students real world exposure and access to safe and affordable banking options.
05:08Those two pieces are critical to banking all of our New Yorkers.
05:12We'll have more to share on this in the coming months.
05:15And finally, we will continue to explore additional ways to give students hands-on experience learning about saving and managing money.
05:23Many of you have heard the mayor reference landing the plane.
05:30Well, through FLY, we are building the runway for children to take off towards a financially healthy adulthood.
05:40Thank you to Mayor Adams, who has been so invested in this work and uplifting families.
05:47Deputy Mayor, Adolfo Carrion, for his leadership and support in making FLY a reality.
05:55And our school's chancellor, we're presenting here again, thank you, Chief of Student Pathways.
06:02Chancellor Aviles-Ramos for her chair commitment to youth financial empowerment.
06:06And I really have to also pause and thank my team.
06:09So many of you are here.
06:10They've just worked tirelessly.
06:12Really just listening to me, sitting with me, and giving shape to this vision of bringing financial empowerment to our youth.
06:24Like I said, it's very dear and personal to me.
06:27My daughter is here, Pilar.
06:29My son is in school today.
06:31I need to take him out.
06:33And my husband, they heard me so many times talking about this.
06:36And it's just, it's really wonderful to see it.
06:40I really want to just encourage public school families to visit nyc.gov slash fly to learn more about this new program.
06:50And all New Yorkers who are 18 and older to already please visit nyc.gov slash talk money.
06:57For more information, our financial empowerment centers make that appointment.
07:01I'm a client myself.
07:02It is life changing.
07:04And with that, I would love to have Wayside Church Pastor Hemant.
07:12I said I was going to do it right.
07:19Good morning.
07:20Good morning.
07:21To our wonderful mayor, Mayor Adams, and to our commissioner, and to our deputy mayor, and to our principal of Brooklyn Collegiate, Ms. Newsome, Newman.
07:33And to her staff, and to all of you.
07:36I am excited, ecstatic, and overwhelmed with joy to be here for this wonderful occasion.
07:45My name is Reverend M Zidia Mafia.
07:47I am the pastor of Wayside Baptist Church.
07:50And the reason why I'm excited is because this is my adopted school that we adopted years ago with Wayside.
07:56And we tried to do everything we can.
07:58And when I heard this information, it was just wonderful to be here.
08:02I am a product of the Board of Education, that's now Department of Education.
08:08I worked in this very building under District 23, under superintendents, and I served as the attendance teacher for District 23.
08:21I'm a former teacher for District 16, and I've served on several boards for the Chancellor's Office, and definitely have served with our wonderful mayor on the Interfaith Board currently.
08:34And we're grateful to be here.
08:36This is a program that is overwhelmingly exciting, because this program is empowering our young people.
08:47And I am one who is excited about it because I have never heard of such a thing in school of being able to finance and help our young people to be able to receive finances and obtain finances and have a bank account.
09:04I've been preaching since I was 14 years old, and I wish that I had a bank account.
09:11I wish I had a savings account, a high yield savings account.
09:15I would be owning this school if I knew that at 14.
09:20So it is great.
09:21I'm just really excited that it's able to happen here.
09:25And I just want to say, as pastor of Wayside Baptist Church, we're a few blocks down, and we have seen the disparity of our young people not having the proper funding for food, for clothing, for what have you.
09:42And so I am personally involved in this, and I am personally going to be trying to help as much as I can to make sure that all of our young people, especially in this community, have such a thing.
09:57Thank you, Brother Mayor, for this.
10:00And so that's why today this announcement is vitally important.
10:05It will help give the children a stronger foundation to build their lives on.
10:12That means a safer foundation.
10:16It means a more stable foundation.
10:19And it means that they will be able to feel a certain independence at a certain age.
10:28When you have a certain level of independence, you're able to succeed in life, and you're able to stand on your own to a level and help in your community.
10:38When you're able to have a foundational strength in your identity.
10:43When young people are able to know that they can accurately spend their money on things that makes them feel empowered,
10:51you have a young person that's going somewhere in society.
10:56And so therefore, Brother Mayor, thank you so much for leading in this whole work that's going on in Commissioner.
11:06And thank you to the teachers and to all of the financial educators that will be a part of this program.
11:12We are looking forward to being a part of this program.
11:16God bless you.
11:29I was wondering what the recruitment process for the educators will look like.
11:32And, you know, what criteria you're looking at and things like that?
11:37Commissioner.
11:38Yeah.
11:39So we're building on our almost two decades of experience with our financial empowerment centers.
11:44centers we have existing partnerships that have financial counselors and so we will be leveraging
11:48those relationships to hire and contract with those community-based organizations and have them
11:54bring in the experts that are have the knowledge and not just financial empowerment but also working
12:00with youth and families one more for the mayor um on the topic of finances is there a reason the
12:06governor came to the come killers yesterday and not you because she's the governor i'm the man
12:13next question thank you guys thank you wait we got some swag
