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Money Smart Press Releases

FDIC'S MONEY SMART ALLIANCE PROGRAM WELCOMES THE OPPORTUNITIES INDUSTRIALIZATION CENTERS
OF AMERICA AS NEWEST MEMBER

FOR IMMEDIATE RELEASE
MS-001-2002 (12-02-2002)
Media Contact:
Rosemary George (202) 898-6530

The Federal Deposit Insurance Corporation (FDIC) announced today that the Opportunities Industrialization Centers of America (OICA) has become the newest member of the FDIC's Money Smart Alliance Program, which is designed to promote financial education nationwide.

The FDIC developed the Money Smart curriculum to help adults enhance their money management skills, understand basic financial services offered by the financial mainstream and build their financial confidence to use banking services effectively. As a Money Smart Alliance Member, OICA will offer the Money Smart curriculum through its network of 57 local affiliated organizations in 33 states.

FDIC Chairman Don Powell said, "We are delighted to welcome OICA to the Money Smart Alliance Program. We believe using the Money Smart financial education curriculum is an excellent way to ensure that everyone has the knowledge necessary to function within our financial system. We know that financial education is a key element in building banking relationships, strengthening communities and improving quality of life within every segment of our society. FDIC Money Smart is the tool kit that helps people do this."

The OICA has 37 years of experience in serving the poor, unemployed, underemployed and young people. Affiliates across the country offer a wide range of services, including computer education, nursing services, vocal training, immigrant programs, youth programs, GED/ABE Programs and alcohol/drug treatment. The Money Smart curriculum will now be offered as well.

Said C. Benjamin Lattimore, OICA's Director of National Literacy programs: "In our nation's current economy, understanding the basics of money management is essential. The Money Smart program is a perfect complement to our existing program activities across the country and strengthens OICA's commitment to help people become economically self-sufficient."

The Money Smart curriculum is comprised of ten comprehensive instructor-led modules covering basic financial topics including an introduction to bank services, tips on obtaining credit and buying a home. Money Smart can be taught in its entirety, or specific modules can be used to fill in the gaps in other financial education programs. It can be easily reproduced for wide dissemination and has no copyright restrictions. Money Smart is free to users.

In addition to the English and Spanish CD-ROM versions now available, Money Smart is being translated into Korean and Chinese. Those versions are scheduled for release in 2003.

Any organization interested in financial education can use Money Smart. For information and instructions on how to obtain copies of the curriculum click on the FDIC Money Smart link at www.fdic.gov, or call (202) 942-3404.

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 9,480 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars - insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov or through the FDIC's Public Information Center (800-276-6003 or 202-416-6940).

Last Updated 12/03/2002 communications@fdic.gov