The next wave of young African American students to gain an insightful and working knowledge of investments, finance and wealth creation will launch their participation in the Chicago Urban League's Youth Investment/Youth Entrepreneur Project (YIP/YEP) during an orientation on Saturday, January 13 from 12:00 p.m. - 4:00 p.m. at the League's headquarters, 4510 S. Michigan Ave.
The program, now in its fourth year, was designed to show African American students how to manage personal finances and attain life success; teach African American youth how to link personal experience and creativity to profitable investment outcomes; expose youth to technology through a Weekend Computer Camp; and connect African American youth to professionals and career options in the financial world. The intensive 24-week program will feature financial advisors, lecturers and other specialists who will work closely with the youth.
The program will be divided into eight weeks for the Youth Investment Project, in which the students will research stocks, study how the financial markets work, choose a portfolio, manage budgets and follow companies in the market. During the second eight weeks that comprise the Youth Entrepreneur Program, students will participate in the Stock Market Game, an online, simulated stock trading competition.
During the last eight weeks, they will participate in a summer internship program where students will receive professional assistance in securing summer employment with a Chicago-area company.
"It is important for programs such as this to continuously educate our youth about the time-tested adage of 'Invest early and invest often' if they are to understand how the notions of investment and reinvestment can facilitate their success and self-determination in life," said James W. Compton, president and CEO of the Chicago Urban League.
To date, more than 100 students have successfully completed the YIP/YEP program, which was honored in 1999 as The Youth Entrepreneur Program of the Year by the Minority Enterprise Development Council.
Established in 1916, the mission of the Chicago Urban League is to eliminate racial discrimination and segregation and to work for the achievement of equal opportunity and parity for African Americans, other minorities and the poor in every phase of American life. Today the League's work is focused in three primary areas: education, economic development and community empowerment.