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Bank On South Alabama (BOSA), a group of financial institutions, community groups, and government entities, is helping unbanked and underbanked residents in southwest Alabama access safe and affordable accounts and financial education programs. BOSA has been using the FDIC’s Money Smart curriculum since the coalition’s inception in 2014. Partnering financial institutions and their employees volunteer to help various organizations, primarily nonprofits, bring the Money Smart program to their clients in shelters, substance abuse centers, and other locations.
Recently, the coalition’s financial institutions teamed up with the Boys & Girls Clubs of South Alabama to bring the FDIC’S Money Smart for Young People curriculum to four of their summer youth programs in Mobile, Alabama. The mission of the Boys & Girls Clubs of America is “to enable all young people, especially those who need us most, to reach their full potential as productive, caring, responsible citizens.” Once a week, volunteers from various financial institutions taught students ranging from 13 to 18 years old over a five-week period.
Ashley Mabry, an assistant vice president at Trustmark National Bank in Mobile, Alabama, said, “The students enjoyed the new Money Smart for Young People version because it allowed them to interact with each other by working in groups, playing games and sharing ideas. They learned invaluable lessons that included saving money for future goals, having enough money to pay bills as an adult through needs vs. wants, the importance of having and maintaining good credit, and knowing what is needed to become an entrepreneur in addition to having a great idea.”
While financial institution volunteers said they enjoyed using the handwritten exercises for the children, in the future, they plan to use computers to incorporate the modules and exercises that called for internet access and thought it would be a better way to keep the attention of young people.
See more success stories from Money Smart News.
For help or information on how to use the Money Smart curriculum, contact communityaffairs@fdic.gov.
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Contact FDIC Community Affairs staff with questions on the Money Smart materials. And, share tips or other experiences using Money Smart with the FDIC team. This feedback helps us enhance Money Smart and may also be considered for publication in Money Smart News.
The .gov means it’s official.
Federal government websites often end in .gov or .mil. Before
sharing sensitive information, make sure you’re on a federal
government site.
The site is secure.
The https:// ensures that you are connecting to
the official website and that any information you provide is
encrypted and transmitted securely.
Here are some links that may be helpful in finding what you are looking for:
FDIC staff is available to provide technical assistance and to help facilitate partnerships among interested parties. Contact us at communityaffairs@fdic.gov.
