It takes a village to build a prosperous community. At MoCaFi, one of our guiding principles is partnership — leveraging relationships and commitments between private and public actors, from municipal governments to local philanthropic foundations, to build thriving communities.
In St. Louis, we have an opportunity to make a transformative impact on communities, pulling together financial institutions and non-profit funders for a first-of-its kind junior bonds program, the On Our Block® St. Louis Investment Program.
What is a Baby Bond?
Junior bonds — often called baby bonds when provided at birth — are some of the most effective investments that local governments or philanthropic organizations can make to lift entire communities. As children grow, their investment grows, enabling them to chase opportunities that might have otherwise been out of reach. Whether invested in college, homeownership, or entrepreneurship, the wealth generated by a baby bond can unlock brighter futures, and build lasting financial stability.
Baby bond programs have already been implemented in Connecticut, and are being considered in dozens of other states.
What is the On Our Block St. Louis Investment Program?
In a city like St. Louis, where one-third of children live in poverty, a baby bond program can make real inroads in breaking the cycle of poverty. In partnership with JSMF and Edward Jones, the On Our Block: St. Louis Investment Program is a program that commits to investing in 300 St. Louis seventh graders from low-income households in target neighborhoods. Paired with personalized financial advising, top-notch fund management, and financial literacy classes, the On Our Block: St. Louis Investment Program is creating a future generation of wealth-builders.
What is MoCaFi working on next?
Over the next few weeks, MoCaFi and our partners are hosting community outreach events, bringing information about the On Our Block St. Louis Investment Program to eligible families and encouraging them to apply to be part of the program.
“St. Louis is my home, so it’s been beyond meaningful to bring this program to life and have an opportunity to give back,” said Eddie Mungai, Senior Community Engagement Manager at MoCaFi. “I hope that, with the success of our partnership and pilot program, other public and private actors looking to make an impact in the lives of children and their families will turn to our junior bonds model as a tried-and-tested avenue for community investment.”
Learn more about the On Our Block: St. Louis Investment Program on our website here.
