The San Francisco Office of Financial Empowerment (OFE) gives an update on their CSA program during the Pandemic. The Kindergarten to College program was the first publicly funded universal CSA in the country, launched in 2011. In addition to showing that the biggest declines in saving came from low-income families, particularly in neighborhoods with a high concentration of Latinx and Asian residents, the report includes a call to action: “Given the economic impacts of COVID-19, state and local governments will face significant budget cuts, and long-term projects, like CSAs, may be the ones eliminated first. Policymakers, advocates and philanthropists must all unite to support and preserve the funding for CSAs.”
