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Money Smart News - July 2003

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Message from the Chairman
Photo of FDIC Chairman PowellWelcome to the first edition of Money Smart News, a quarterly electronic newsletter designed to keep our Money Smart partners and other interested parties up to date on this outstanding financial education program for low- and moderate-income adults.

Each issue of Money Smart News will focus on a specific segment of the population being reached by Money Smart. This first issue is devoted to the new Asian-language versions of Money Smart.

A few weeks after Chinese New Year, the FDIC introduced a Chinese-language version of Money Smart with events in New York, Chicago, and Houston. And on July 10, we rolled out the Korean version at a celebration in Los Angeles Koreatown, home of the largest population of Koreans outside Korea itself.

Money Smart is now available in English, Spanish, Chinese and Korean, and we’ll be introducing a Vietnamese version later this year.

We developed Money Smart – and translated it – because we believe that understanding basic financial principles helps people avoid mistakes that will keep them from achieving financial freedom and attaining security for themselves and their families.

We also believe that Money Smart gives people who need it most a valuable introduction to the benefits of doing business with mainstream financial institutions instead of so-called “fringe banks.”

Money Smart is nearly two years old now. During that time, the FDIC has partnered with more than 21,000 banks, community groups, churches and city . colleges to make 70,000 copies of Money Smart available to folks across the country. And these individual partners, together with our Money Smart Alliance National Partners, have enabled us to reach more than 100,000 people from all walks of life, in all fifty states.

If you read the testimonial below from Ms. Lan Fang Liang, one of our first Chinese-language graduates, you will understand why we are proud of Money Smart and the difference it is making in peoples’ lives.

I hope you enjoy this first issue of Money Smart News. And please send us your own success stories through the link provided below so we can share your good news with others.

--Chairman Don Powell



Last Updated 08/18/2004 supervision@fdic.gov