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Money Smart Press Releases

FDIC AND AMERICA'S COMMUNITY BANKERS TO PROMOTE FINANCIAL
EDUCATION THROUGH ACB MEMBER BANKS NATIONWIDE

FOR IMMEDIATE RELEASE
MS-005-2003 (03-25-03)
Media Contact:
Rosemary George (202) 898-6530

The Federal Deposit Insurance Corporation (FDIC) and America's Community Bankers (ACB) announced today that the two organizations will promote financial education through ACB's member banks across the country. The announcement was made by Don Powell, Chairman of the FDIC, and Diana Casey Landry, President and CEO of ACB, at a signing ceremony held at the FDIC's headquarters in Washington, DC.

"The FDIC is very pleased to enter into this partnership with ACB. ACB has demonstrated its true commitment to the principles of community banking by adopting Money Smart as a tool to educate customers on how to make money work for them, not against them," said FDIC Chairman Don Powell.

"Community bankers have long recognized the importance of understanding the basic rules that govern the use of money and credit," said Diane Casey Landry, President and CEO of ACB. "Having the right financial skills is essential to achieving such American dreams as owning a home or financing one's education. That is why ACB is pleased to be joining with the FDIC to promote the Money Smart curriculum."

Under the terms of the agreement signed today, ACB will provide the Money Smart program nationwide to member banks and state association members, conduct training sessions to assist ACB members in using the program in their communities, promote the program at educational seminars and offer a Money Smart workshop at ACB's annual convention.

The FDIC developed the Money Smart program to help adults enhance their money management skills, understand basic financial services offered by the financial mainstream and build their financial confidence to use banking services effectively. The Money Smart curriculum is a set of ten comprehensive instructor-led modules covering basic financial topics including an introduction to bank services, tips on obtaining credit and information on buying a home. Money Smart is free to users, and is available in English and Spanish. Chinese, Korean, and Vietnamese versions will be available later this year.

Community bankers interested in Money Smart materials should call the ACB's Michael Briggs at (202) 857-3122, or contact him by e-mail at mbriggs@acbankers.org.

For more information on the Money Smart program, visit the FDIC's Web site at www.fdic.gov, and click on the Money Smart link.

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Attachment:
Don Powell, Chairman of the FDIC, and Diana Casey Landry, President and CEO of ACB, at signing ceremony held at the FDIC's headquarters in Washington, DC.

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 4/01/2003 communications@fdic.gov