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Money Smart Press Releases

NEW YORK CITY COMPTROLLER'S OFFICE JOINS
FDIC'S MONEY SMART ALLIANCE PROGRAM

FOR IMMEDIATE RELEASE
MS-008-2003 (04-12-03)
Media Contact:
Rosemary George (202) 898-6530

The Federal Deposit Insurance Corporation (FDIC) today announced that the Office of New York City Comptroller William C. Thompson, Jr. has joined its Money Smart Alliance Program. The announcement was made by Donna Gambrell, Deputy Director of the FDIC's Division of Supervision and Consumer Protection (DSC), and by Comptroller Thompson at an event held today at York College in Jamaica, New York.

The New York City Comptroller is the Chief Financial Officer of the City of New York. The mission of the Comptroller's office is to ensure the financial health of New York City. As a member of the Money Smart Alliance Program, the Comptroller's Office will promote the FDIC's financial education program by hosting a series of Money Smart Train-the-Trainer workshops for New York City's faith-based community.

"Faith-based organizations have been some of our strongest partners since we launched Money Smart nearly two years ago," FDIC Chairman Don Powell said. "They touch every corner of America and, as President Bush has said, rally the armies of compassion to change lives one at a time. I am delighted the Comptroller's office, working with faith-based organizations, will help people learn how to manage money, build assets and move toward financial freedom."

"Financial literacy is crucial to the economic well-being of New Yorkers and their communities," said Comptroller Thompson. "I am pleased that my office will be working with the Federal Deposit Insurance Corporation to help our city's residents make informed financial decisions, and at the same time improve the relationship that communities have with their area banks."

The first in a series of Money Smart Train-the-Trainer workshops will be hosted today by the Comptroller's office. Volunteer instructors at today's workshop will receive the necessary tools and tips to deliver Money Smart classes in their communities.

The FDIC developed the Money Smart program to help individuals enhance their money management skills, understand basic financial services and build their financial confidence to use banking services effectively. Money Smart is made up of 10 comprehensive, instructor-led modules covering basic financial topics, including an introduction to bank services, tips on obtaining credit and information on buying a home. The curriculum can be utilized in its entirety or in part, using selected modules to complement other existing financial programs. Money Smart is available from the FDIC in English, Spanish, and Chinese and is free of charge to the user. To encourage wide dissemination, the curriculum is designed to be easily reproduced and has no copyright restrictions.

Instructions for obtaining copies of the curriculum can be found by clicking on the Money Smart link at www.fdic.gov, or by calling (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 9,354 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 4/14/2003 communications@fdic.gov