PHILADELPHIA (CBS) — Former Philadelphia Eagles safety Malcolm Jenkins is putting local students on the road to financial freedom. Jenkins is teaching them how to build wealth.
“Everything that was in place that took George Floyd’s life is still very intact,” Jenkins said. “Until we address that, the systems, we’ll still continue to turn out different names like George Floyd, Breonna Taylor.”READ MORE: Radnor Community Rallies To Save 'Raider' Name Ahead Of School Board Meeting
Jenkins is putting his money where his mouth is — literally.
His foundation, The Malcolm Jenkins Foundation, is teaching children how to build wealth.
“They’re going back to the same environments that are traumatic that are deprived in resources,” Jenkins said. “One of the things that we realized or that you look at across education, criminal justice, health care anything, it comes down to money.”
That’s why the Malcolm Jenkins Foundation is opening 1,000 savings accounts for students in Pennsylvania, New Jersey, Ohio and Louisiana.
The first deposit will be $40.READ MORE: Tyree Roundtree Shot, Killed By Co-Worker Over $1,500 In Construction Wages, Philadelphia Police Say
A local philanthropist in Philadelphia is adding $10 to lift it to a total of $50 per account.
The foundation is teaming up with Goalsetter to eliminate the racial wealth gap in the United States.
Jenkins’ mother is also involved in the initiative.
“The first school and first group that we thought of, in terms of offering this to was, the school Parkway Northwest High School for Peace and Social Justice,” Gwendolyn Jenkins said.
Parkway Northwest High School for Peace and Social Justice is just one of many schools part of the financial literacy program with the foundation.
“We’re in a very fortunate position,” Parkway Northwest High School for Peace and Social Justice Principal Jeffrey A. MacFarland said. “I say all the time, I am privileged as a white man to understand what it is to be privileged in this society, and it’s a real personal privilege to be involved in something like this that’s going to have the impact it deserves.”MORE NEWS: FDA Authorizes Pfizer's COVID-19 Vaccine For Emergency Use In Children Ages 12-15
The children can’t make withdrawals until they’re 18 years old.