Do all of my children have an account, or do we have one account for the entire family?
Each child enrolled at Propel has a Propel Fund My Future account. If you have more than one child enrolled at any of the Propel schools, each child will have his or her own account.
Will this account earn interest?
No, but you will have a chance at winning cool prizes, including a $5,000 grand prize pool! Like us on Facebook for more ways to win!
How do I win prizes?
All you need to do is make deposit of at least $1, and you will receive a raffle ticket. There are quarterly drawings and then a grand prize drawing once a year. A full list of prizes is here.
In addition to the monthly raffles, each month there are periodically additional incentives to make saving fun! Check the Fund My Future website, our Facebook page, and our Twitter feed to get more details about how to win more prizes!
Do I have to participate?
No. There is no requirement to participate, no required minimum deposit, and no penalty for choosing not to participate. You are under no obligation to use the account, and you do not need to notify us if you do not wish to participate. However, in order to be entered into the raffle prize drawings you must make deposits. So, we encourage you to deposit as much as you can to establish a savings habit and increase your chances of winning!
What is Fund My Future?
Fund My Future is a program administered by the Propel Schools Foundation to help families of children in Allegheny County to save for college and other post-secondary goals. Fund My Future provides a prize pool (currently valued at $15,000 per year) that makes the saving experience fun. Participants earn raffle tickets when they make deposits, and prize drawings are held quarterly with a grand prize drawing once a year! A full description of the Fund My Future program is available here.
What are Fund My Future accounts?
Propel Schools has teamed up with Dollar Bank to make a savings account available for each student attending a Propel school, so all you need to do is make deposits at weekly bank-at-school sessions for your chance to win! And remember, the more you save, the more chances you have to win!
What is so great about this account?
With this account you do not need to worry about any account fees. You do not need to provide any personal information (including social security number, credit history, employment status, etc.), and there are no minimum requirements to maintain the account. All you need to do is deposit money and it will be held safely for you and your child until it is needed to help fund your child’s education. And, of course, these accounts are linked automatically with the Fund My Future portal with raffle with $15,000 of prizes awarded in the next 12 months!
How do I deposit money?
There are four ways you can deposit:
- Deposit at your child's school during the weekly bank at school opportunities. Send your child in with cash, check, or money order. We ask that you do not send your child with more than $20 in cash.
- During school events, Fund My Future may have a table to accept deposits, review accounts, or answer any questions that you may have about the program.
- Deposit at any Dollar Bank branch. Present your child's account number to a teller at any Dollar Bank location.
- Setup direct deposit or automatic payment for money to be automatically deposited into your child’s account each month. Ask us how!
I receive government benefits, am I in danger of losing these benefits if I deposit too much in my child’s account?
No. The account is for the benefit of your child, but it is not in your name and will not be considered as part of your personal assets.
If I do not want to use this account, what do I do?
You are under no obligation to use the account, and you do not need to notify us if you do not wish to participate. However you may notify us that you prefer not to participate by completing the opt-out form enclosed in the rules or by contacting the program manager at 412-325-7305 ext 7777.
Who has access to the account information?
Online access will be protected by a user name and password that you, the child’s parent or guardian, create and manage. Without the user name and password, accessing personal information, including the amount in the account, is not possible. The account number associated with your child’s account will only allow someone to deposit money into the account. Money cannot be withdrawn without contacting the program manager.
How do I withdraw money in an emergency?
Since this account is intended to help fund your child’s future education, we do not anticipate any withdrawals prior to your child’s high school graduation. However, we understand that emergencies may arise and the immediate need for money may conflict with the need to save for the future. In these instances, you will be asked to set up an appointment to meet with the program manager who will then walk you through the process of withdrawing money or closing the account. All withdrawals are done through the Fund My Future program office. Processing of all withdrawals will take a minimum of seven business days.
If my child is no longer enrolled at Propel will I still be entered to win prizes if I continue to make deposits?
In the event that a student is no longer enrolled at a Propel school, we will contact you and disburse any balance in the account to you.
Is there a limit to how much I can deposit?
No. However, you can only earn six raffle tickets in each three month quarter.
Who do I contact if I have questions not covered here?
Our program manager, Toni Corinealdi, will be happy to speak with you at any time. Please contact her by phone at 412-325-7305 ext 7777 or by email at fundmyfuture@propelschools.org.