BELLEVUE, Wash., March 25, 2013 (GLOBE NEWSWIRE) -- Quemulus, Inc., makers of a social money platform accessible from web and mobile devices, has partnered with WAPI Family Services (WAPI) and Extraordinary Futures (EF) to help more than 1,200 at risk youth become smarter financially --and transform their lives in the process.
The program, which launches in June and runs for two years, provides financial literacy education and accessible digital tools for 12-to-20-year-old at-risk youth in the greater Seattle area. Quemulus, a Bellevue-based startup, will supply the platform that program participants will use.
Both WAPI Family Services and Extraordinary Futures strive to create stronger leaders for at-risk and urban youth who, among other things, face low financial literacy and little social reinforcement for positive financial change. "Financial education alone isn't enough to change behaviors," said Greg Garcia, Executive Director of WAPI Family Services. "These issues are endemic and require both personal change and social accountability."
Quemulus and its partners have created a comprehensive financial literacy program with five key elements:
- Financial classroom instruction and workshops
- Setting up personal bank accounts
- Learning to use interactive mobile and online tools
- Social sharing and trust
- Developing both personal and social accountability
Quemulus' online social money platform provides youth with the ability to digitally see, track, and socially share their savings goals while creating trust and transparency with whom they transact, borrow, or lend. Additionally, they participate without ever paying transaction fees. "Quemulus' social interface will speak naturally to this Facebook generation," said Joe Stolte, Executive Director, Extraordinary Futures.
"A guiding value for this program is providing resources and tools to help our partners build great financial literacy programs, plus a robust technology ecosystem which provide youth a safe and easy way to discover the power of financial goals, " said Kelly M. Ogilvie, President and Chief Operating Officer of Quemulus. "I can't think of a better way to support our community than empowering young people."
Quemulus, Inc. is a Bellevue, WA-based start-up which invented a social money platform accessible from web and mobile devices. Users have the ability to send and receive money as well as create "Money Clouds" that can be used for individual or group savings, budgeting, collection of funds, and sharing of information through a simple user interface. Quemulus is currently in private testing and due to launch in Spring of 2013.
ABOUT WAPI FAMILY SERVICES
WAPI Family Services has been providing youth and family services to at-risk youth and teens for more than 20 years. Their goal is to help youth deal with substance abuse/dependency issues and to provide youth with healthy alternatives to substance use through culturally relevant means. In 2012, WAPI Family Services delivered drug prevention and treatment services to 950 clients.
ABOUT EXTRAORDINARY FUTURES
Extraordinary Futures is a leading non-profit organization established in 2012 that uses fun, unique and engaging arts-based programs to empower urban youth to lead healthier lifestyles and to realize their full potential as leaders.
For more information:
Mark Briant, 206.321.9362
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