Money Smart News – Winter 2020
News and Information About Working Together with Money Smart
Money Smart News is the FDIC’s quarterly newsletter featuring tips, updates, and success stories for financial educators. We welcome submissions.
In This Issue
- Message from the FDIC
- Money Smart Users Making a Difference: Four Organizations Recognized for How They Use the FDIC’s Financial Education Curriculum for Adults
- Coming Soon: Updated Version of the FDIC’s Money Smart for Young People
- CFPB Offers New Classroom Activities for Middle and High School Educators
- Make Plans for America Saves Week 2020
- Interagency Community Reinvestment Conference for CRA Professionals Set for March 9–12
This special edition of our newsletter highlights four FDIC Money Smart Alliance members and the noteworthy ways they are using Money Smart for Adults to help people improve their financial well-being. These members were selected from among the FDIC Money Smart Advance Team (MSAT), which is a subset of the Alliance that was asked to provide feedback on the 2018 update of the curriculum and to share their experiences using the materials.
Their stories range from a nonprofit in Los Angeles collaborating with banks to teach Money Smart and help people improve credit scores, to a statewide approach in Wyoming to help the neediest residents gain hope for their financial future. We hope these stories will inspire you to initiate new collaborations that will help more people enhance their money management skills and confidence through knowledge and practice.
Are you struggling with how to pursue a new collaboration? Here are some ideas.
- Consider teaming up with a community reentry program to offer Money Smart training as one way to support vocational programming. If you are not sure how to get started, search at usa.gov for “community reentry program [your state]” to identify local contacts. Keep reading for a story about a successful collaboration in Pennsylvania that came together using Money Smart.
- What about your organization’s own employees? Or businesses your organization works with? Perhaps you can provide Money Smart training to new employees or to existing employees as a type of “lunch and learn” event. Complementing other resources that focus on retirement planning, Money Smart can help your employees understand topics such as debt and money management, which often are of interest in the workplace, according to a study Financial Wellbeing Survey Findings: An Employer’s Perspective (www.ebri.org) on employer-based initiatives by the Employee Benefits Research Institute. As you will read in this edition of our newsletter, Haven Neighborhood Services in California has provided training at sites such as hospitals, and it uses Money Smart to support its financial coaching for the people it trains.
- Explore ways to deliver Money Smart through a housing program HUD Resource Locator (resources.hud.gov), social services program Administration for Children & Families: Help for Communities (www.acf.hhs.gov), library, or similar venue. Past editions of Money Smart News success stories are a good start for illustrating the possibilities.
Looking for new ideas or approaches to use Money Smart, such as during America Saves Week on February 24–29, 2020? Or, can you tell us what most stands out to you when you think about your last experience using Money Smart, so we can consider sharing it in future editions of our newsletter? Whether you are offering suggestions or looking for assistance from FDIC staff, email us at firstname.lastname@example.org.
Deputy Director, Consumer and Community Affairs
FDIC Division of Depositor and Consumer Protection
Money Smart Users Making a Difference: Four Organizations Recognized for How They Use the FDIC’s Financial Education Curriculum for Adults
Read how four organizations are improving their communities using Money Smart for Adults. Success Story.
The FDIC will be releasing an enhanced version of Money Smart for Young People, our curriculum targeted to educators of students in Grades Pre-K to 12. The curriculum includes an educator’s guide with lessons, hands-on activities, teacher presentation slides, student guides with worksheets, and parent/caregiver guides that offer exercises and activities. The new Money Smart for Young People benefits from insights from 26 educators who taught 83 sessions as part of a special project in 2018. The updated curriculum features a modern, easy-to-read format, educator guides with more activities, and improved online parent/caregiver guides. The curriculum will be released early 2020.
The Consumer Financial Protection Bureau (CFPB) now offers classroom activities for middle and high school educators to help students develop the building blocks of financial capability, many of which have been incorporated into Money Smart for Young People. Educators can choose from more than 150 activities that promote lifelong learning and financial skills. Each activity comes with a teacher guide and supporting student worksheets and materials, making it easy to incorporate interactive and engaging activities into classrooms. Use the activity search tool to filter by grade level, activity duration, and other key criteria. Find more information: Learn about the building blocks of financial capability (www.consumerfinance.gov).
America Saves Week, an annual, national campaign, offers opportunities for organizations to promote good savings behavior and a chance for individuals to assess their own savings status. This year, America Saves Week will be held February 24–29. The America Saves organization recognized 18 financial institutions with its 2019 Designation of Savings Excellence award. Together, these institutions encouraged more than 280,000 people to deposit more than half a billion dollars into new or existing accounts during America Saves Week 2019. Let’s start the new decade by redoubling efforts to help people develop and act on plans to build savings, particularly an emergency savings fund. Learn more about the FDIC’s Savings-Related Resources and make plans to inspire people to develop or refresh savings plans during America Saves Week (www.americasavesweek.org).
Registration is open for the federal government’s next National Interagency Community Reinvestment Conference, the premier conference for community development professionals. It will feature compliance training, leadership on emerging trends and issues, and tours highlighting on-the-ground success stories in local communities. The conference, which will be held March 9–12, 2020 at the Sheraton Denver Downtown Hotel, is sponsored by the FDIC, the Federal Reserve Banks of San Francisco, Chicago, and Kansas City; the Board of Governors of the Federal Reserve System; and the Office of the Comptroller of the Currency. Click 2020 National Interagency Community Reinvestment Conference (www.nicrc.us) for more information and to register for the event.
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