Mayor Evans Launches R-Future Fund, Rochester's First Children's Savings Account Pilot

Rochester, NY - Mayor Malik D. Evans joined members of the City’s Office of Financial Empowerment (OFE) and community partners to announce the launch of, R Future Funds, Rochester’s first city-wide Children’s Savings Account (CSA) pilot program. 

The initiative is designed to help children and their families begin to build toward future educational, career, and financial goals through savings and financial education. 

“The R-Future Fund is an investment in Rochester’s future,” said Mayor Evans. “When we invest in our children, we invest in the long-term strength and resilience of our city. By helping families begin saving early and connecting them with financial resources, we are building momentum for future generations and helping more young people reach their full potential.” 

Children who are city residents, enrolled in Kindergarten for the 2025-2026 school year, or who will be enrolled in the fall, are eligible to participate in the R-Future Fund pilot. Each child will receive a $20 seed deposit into a savings account, with an additional $20 for children living in the city’s poorest zip codes: 14605, 14608, 14611, and 14621.

Participating families will also have opportunities to receive bonus deposits up to $10 each during their first year of the program by participating in activities like financial literacy events or opening a library card. 

Research shows that children with savings accounts are more likely to enroll in and graduate from college, strengthen their math and reading achievement, and build lasting financial literacy. Even students who receive five hours of financial education in school demonstrate a significantly deeper understanding of saving, banking, and other positive financial behaviors. 

R-Future Fund is funded by the ESL Foundation and Canandaigua National Bank and is administered through the City of Rochester’s Office of Financial Empowerment (OFE). 

In addition to savings incentives, the OFE team will connect participating families with financial education opportunities and resources that can help them achieve their financial goals, including financial counseling, homeownership support, safe and affordable banking options, and other financial empowerment programs. 

R-Future Fund reflects the City’s ongoing commitment to expanding economic opportunities, supporting families, and investing in the next generation of Rochester residents. 

For more information or to enroll a child in the R-Future Fund, visit www.cityofrochester.gov/R-FutureFund.