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Money Smart Press Releases

FDIC AND GOODWILL INDUSTRIES AGREEMENT WILL LINK
FINANCIAL EDUCATION WITH JOB TRAINING

FOR IMMEDIATE RELEASE
MS-004-2003 (03-14-03)
Media Contact:
Rosemary George (202) 898-6530

The Federal Deposit Insurance Corporation (FDIC) and Goodwill Industries International, Inc. today signed an agreement that will bring the FDIC's Money Smart financial education curriculum to lower-income families, working families, and individuals receiving job skills training and career services at Goodwill agencies.

"Financial education is the perfect complement to job skills training," said FDIC Chairman Don Powell. "Earning a paycheck sets people on the road to economic freedom. But if families don't understand the basic concepts of budgeting, savings and credit management, a paycheck will not be sufficient to achieve economic stability."

The FDIC and Goodwill will be working together to promote the Money Smart financial education curriculum through the Goodwill-member network. "We know that people need more than a job to move out of poverty," said George W. Kessinger, President and CEO of Goodwill Industries International. "The FDIC's Money Smart training program will help people learn how to budget and save money, and use the banking system so they can build a strong foundation for their financial futures."

Goodwill Industries International, Inc. is a network of 207 community-based, autonomous member organizations that serves people with workplace disadvantages and disabilities by providing job training and employment services, as well as job-placement opportunities and post-employment support. With locations in the United States, Canada and 22 other countries, it helps people overcome barriers to employment and become independent, tax-paying members of their communities.

"The FDIC sees Goodwill Industries International as a valuable partner and conduit to helping families achieve financial stability through work and knowledge in personal financial management," said Powell. "We are very pleased to welcome them to our Money Smart Alliance Program and look forward to working with them."

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 Chinese, Korean and Vietnamese. Those versions are 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.

Attachment:
George W. Kessinger, President and CEO of Goodwill Industries International (left) and Donald E. Powell, Chairman of the FDIC, agree that Goodwill Industries will distribute and promote FDIC's Money Smart financial education curriculum.

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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 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 (800-276-6003 or 202-416-6940).

Last Updated 3/14/2003 communications@fdic.gov