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Detroit’s Young Investors Are Being Mentored Into Million-Dollar Mindsets

July 24, 2025

Money Matters for Youth, founded by Gail Perry-Mason in 1996, is a comprehensive financial literacy initiative in Detroit that teaches students aged 8-18 about investing, entrepreneurship, and wealth creation. The program goes beyond basic financial education to provide holistic development through its annual five-day camp, where participants learn about multiple income streams, budgeting, and leadership skills. In partnership with One Detroit Credit Union, the program recently awarded $25,000 in scholarships to 25 Detroit-area teens, who also received collegiate checking accounts with no fees or minimum balance requirements.

Who is affected

  • Detroit youth ages 8-18 who participate in the Money Matters for Youth program
  • The 25 Detroit-area teens who received scholarships and checking accounts
  • Black children in Detroit who have historically been excluded from financial education
  • Former program participants who have become CEOs, franchise owners, and venture capitalists
  • Families and communities of the youth participants

What action is being taken

  • Money Matters for Youth is conducting annual five-day camps teaching financial literacy, entrepreneurship, and life skills
  • The program is partnering with One Detroit Credit Union to provide $25,000 in scholarships to 25 Detroit-area teens
  • One Detroit Credit Union is offering specialized Collegiate Checking accounts with no fees or minimum balances to program participants
  • Gail Perry-Mason is consistently mentoring youth and teaching them financial concepts like having five streams of income
  • Students are learning practical skills like golf, cooking, public speaking, and ballroom dancing as part of a holistic approach to success

Why it matters

  • The program addresses wealth gaps in Detroit by providing financial education to Black youth
  • It creates pathways to economic equity by treating financial literacy as a civil right
  • The initiative provides real-world financial tools and institutional support, not just theoretical knowledge
  • Former participants have achieved significant success, demonstrating the program's long-term impact
  • In a city affected by disinvestment, the program offers tools for economic empowerment and liberation
  • The model combines financial education with cultural competence and community understanding

What's next

  • No explicit next steps stated in the article

Read full article from source: Michigan Chronicle