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Money Smart Press Releases

FDIC WELCOMES STATE FARM FLORIDA TO MONEY SMART ALLIANCE PROGRAM

FOR IMMEDIATE RELEASE
MS-16-2003 (10-27-2003)
Media Contacts:
Rosemary George (202) 898-6530

The Federal Deposit Insurance Corporation (FDIC) today announced that State Farm Florida is the Corporation's newest partner in the Money Smart Alliance Program.

State Farm agents across Florida are being encouraged to teach Money Smart financial education classes to various not-for-profit groups and at financial services-related community events throughout the State of Florida. State Farm agents will also be able to conduct Money Smart workshops at their offices for interested State Farm policyholders and the general public.

"We are very pleased to have State Farm as a member of our Money Smart Alliance Program," said FDIC Chairman Don Powell. "This is an excellent example of State Farm's motto in action: by giving its associates opportunities to give back to the community they are being more than a 'good neighbor,' they are helping people build better neighborhoods."

"One of State Farm's goals is to help people manage the risks of everyday life, recover from the unexpected and realize their dreams," said Sam McClain, Market and Public Affairs Manager for the Florida Zone of State Farm Insurance. "Financial literacy is a key component, and we are proud to use the Money Smart curriculum to provide financial literacy and build strong communities." The FDIC developed the Money Smart program to help individuals develop their money management skills, understand basic financial services and build their financial confidence in order to use banking services effectively. Since the introduction of the FDIC's Money Smart Program in English in July 2001, more than 100,000 people have completed the course. Nationwide, the FDIC has distributed more than 93,000 copies of Money Smart to 26,400 financial institutions, faith-based organizations, city and community colleges, and federal government partners.

Money Smart offers 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 used in its entirety or in part, using selected modules to complement other existing financial programs. To encourage wide dissemination, the curriculum is available on CD-ROM. It can be easily reproduced and has no copyright restrictions. Money Smart is available from the FDIC in English, Spanish, Chinese and Korean and is free of charge to the user. A Vietnamese version of Money Smart is scheduled for release later this year. 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 9,267 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 via the World Wide Web at www.fdic.gov and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 202-416-6940).

Last Updated 10/27/2003 communications@fdic.gov