LaunchPad Memorandum of Understanding

A Memorandum of Understanding (MOU) outlines the expectations, responsibilities, and commitments of BOOST and participants in the LaunchPad Learn and Earn Program, a financial empowerment initiative designed for early educators.

1. Purpose of the Program
The purpose of LaunchPad is to help early childhood educators strengthen their financial wellbeing by pairing structured financial literacy education with a 12‑month matched‑savings opportunity. Participants gain financial knowledge, build consistent savings habits, and develop a sustainable emergency fund to support long‑term financial resilience.

2. Roles and Responsibilities

2.1 BOOST Responsibilities
BOOST agrees to:

  • Provide six (6) live monthly financial literacy classes delivered via webinar.

  • Cover the $15 startup fee for each participant’s savings account with Self‑Help Credit Union.

  • Maintain the LaunchPad program tracking spreadsheet.

  • Facilitate quarterly savings match processing through Self‑Help Credit Union.

  • Communicate program announcements, deadlines, and updates.

  • Provide surveys and feedback opportunities to support program improvement.

2.2 Participant Responsibilities
Participants agree to:

  • Attend all six (6) financial literacy classes.

  • Open a savings account with Self‑Help Credit Union.

  • Consistently save funds in their account for twelve (12) months to remain eligible for quarterly matching.

  • Allow savings to remain in the account to support the purpose of building long‑term financial stability.

  • Participate in all surveys and evaluation requests throughout the program.

3. Savings Match Structure
Participants are eligible to earn matched savings according to the following structure:

  • Up to $100 in matching funds per month with the potential to receive up to $300 in matching funds per quarter

  • A total program maximum of 12 months (4 quarters) of matched savings

Matches are processed by Self‑Help Credit Union every three (3) months. Savings are strongly encouraged to be maintained in the account to qualify for match eligibility and to support the program’s financial resilience goal.

4. Program Timeline

  • Months 1-6: Participants complete one live financial literacy class per month.

  • Months 1-12: Participants save consistently to earn quarterly matches.

  • Quarterly: Matching funds are deposited at the end of each 3‑month period.

5. Program Completion Requirements
To graduate from the LaunchPad Program, participants must:

  • Attend all six (6) financial literacy classes.

  • Successfully complete twelve (12) months of matched savings.

  • Participate in all program surveys and feedback activities.

Graduates will be acknowledged as having completed the LaunchPad Program and will have built a foundational emergency fund supported by BOOST’s matching contributions.

6. Non‑Binding Agreement
This MOU is not a legally binding contract but serves as a shared understanding of expectations and commitments between BOOST and the participant. Either party may end participation at any time; however, participants who do not complete the required components may not receive full program benefits and matching funds.

7. Signatures
By signing the LaunchPad Registration Form, the parties acknowledge their understanding of the LaunchPad Program and agree to uphold the responsibilities outlined in this MOU.