Funding will connect more young workers with secure bank accounts, direct deposit options, and financial education via the expanded Youth Banking Connect program

The KeyBank Foundation has awarded a $300,000 grant to the national nonprofit Cities for Financial Empowerment Fund to expand its Youth Banking Connect initiative, previously called Summer Jobs Connect. This support will allow more young individuals across the nation to obtain secure and affordable banking services, direct deposit capabilities, and financial education through workforce programs tied to government efforts.

The three-year grant allows the CFE Fund to grow its approach past summer employment efforts and include young participants in broader government-supported workforce development activities. Using a cohort academy structure, the program will deliver technical guidance and resources to no fewer than 15 youth workforce initiatives nationwide during the grant period. These efforts will help integrate banking access, financial education, and related empowerment tactics into program operations, leading to more youth opening secure accounts, receiving pay via direct deposit, and participating in financial learning sessions.

"A first paycheck often marks an important step for young people to develop lasting financial practices," said Eric Fiala, Chief Corporate Responsibility Officer and CEO of the KeyBank Foundation. "KeyBank focuses on promoting economic inclusion and financial wellness in our communities. Our work with the CFE Fund supports greater access for young people to reliable banking services, direct deposit of earnings, and essential financial knowledge to establish solid futures."

Access to banking serves as a foundation for financial security. Over the last ten years, the CFE Fund's youth banking work has assisted over 180,000 young individuals in opening their initial bank account and allowed more than 600,000 youth workers to receive wages via direct deposit. The updated Youth Banking Connect effort will extend this progress to a wider set of youth workforce programs for participants aged 14 to 24.

"A first job can change a young person's path, and combining it with secure banking and financial education creates enduring effects on financial security," said Jonathan Mintz, President and Chief Executive Officer of the Cities for Financial Empowerment Fund. "We appreciate the KeyBank Foundation's backing of Youth Banking Connect. This funding will aid local governments and partners nationwide in giving young workers the resources to start their financial paths with assurance."

The Youth Banking Connect Academy will supply participating programs with free training, technical support, peer learning sessions, and materials to build ties with financial institutions, boost direct deposit use, and add financial education to youth workforce activities.

The program mainly reaches low- and moderate-income youth, many experiencing their first earnings and possibly lacking banking access. Linking participants to accounts early in their work lives seeks to encourage ongoing financial growth, saving practices, and economic progress.

The grant supports the KeyBank Foundation's focus on economic inclusion and financial capability, aiding people and families in strengthening their financial outlooks and opening doors to more opportunities nationwide.

The Cities for Financial Empowerment Fund will hold two informational webinars on the YBC Academy.

ABOUT KEYCORP

KeyCorp traces its origins more than 200 years to Albany, New York. Based in Cleveland, Ohio, Key (NYSE: KEY) ranks among the country's largest bank-based financial services firms, holding assets of about $189 billion as of March 31, 2026.

Key offers deposit, lending, cash management, and investment services to individuals and businesses in 15 states through KeyBank National Association via roughly 950 branches and about 1,100 ATMs. Key also delivers advanced corporate and investment banking services, including merger and acquisition guidance, public and private debt and equity, syndications, and derivatives to middle market firms in chosen sectors across the United States under the KeyBanc Capital Markets name. KeyBank Member FDIC.

ABOUT CITIES FOR FINANCIAL EMPOWERMENT

The CFE Fund backs city efforts to enhance household financial stability by using opportunities specific to local government. By applying experience from large-scale programs, research, and policy across cities of varying sizes, the CFE Fund helps mayors and local leaders identify, create, fund, launch, and study pilots and programs that assist families in building assets and optimizing their financial resources. The CFE Fund operates in over 150 cities and counties and has provided more than $75 million to local governments and partners for these initiatives.

SOURCE KeyBank