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Committee approves Opportunity LA/CalKids outreach plan and selects Rise as children's savings account banking partner
Summary
The committee approved outreach plans to expand Opportunity LA and CalKids enrollment and authorized a contract with Rise Credit Union as the program's banking partner, with terms requiring no fees for families and in‑person deposit options via a consortium of credit unions.
The committee approved a report on outreach to increase enrollment in Opportunity LA and the State of California's CalKids program and authorized staff to contract with Rise Credit Union as the program's banking partner after Citibank's contract expires.
Erin Strauss, senior program manager for the Office of Community Wealth and Empowerment, described two aims: expand awareness and coordinate Opportunity LA with CalKids outreach and to select a new banking partner through an RFP process. Strauss said the RFP required partners to provide sufficient brick‑and‑mortar access or consortium arrangements so parents can make cash or in‑person deposits (a significant difference from the state program, which is primarily online and does not accept cash deposits). Staff said Rise indicated it will work through a consortium of credit unions to expand in‑person deposit points.
Why it matters: Councilmembers asked how the city will integrate the program with LAUSD, reach unbanked families, and ensure families do not incur transaction fees. Strauss said the city has an MOU with LAUSD to obtain student data for enrollment and coordinates presentations with schools; staff emphasized that the RFP requires the banking partner to waive fees for participating families and that accounts will be deposit‑only savings intended for post‑secondary expenses.
The committee voted to adopt the report and contract authority. Recorded votes in the transcript show Councilmember Soto Martinez Yes; Councilmember Nazarian absent; Councilmember Hurtado Yes; Councilmember Rodriguez I; Councilmember Padilla absent. The clerk announced the item approved.
Next steps: Staff will finalize the contract with Rise and continue outreach with LAUSD, community partners and the YMCA; the department will provide mapping of access points and additional parent engagement details as the program scales.
