BANCORPSOUTH JOINS FDIC MONEY SMART ALLIANCE PROGRAM
FOR IMMEDIATE RELEASE MS -12 - 2003 (07-01-03)
Media Contact: Rosemary George (202) 898-6530
The Federal Deposit Insurance Corporation (FDIC) today announced that
BancorpSouth has joined the Money Smart Alliance Program. The announcement was
made at the Rotunda of the New Capitol Building in Jackson, MS, by Donna
Gambrell, Deputy Director of the FDIC’s Division of Supervision and Consumer
Protection , and Aubrey B. Patterson, Chairman and CEO of BancorpSouth. Mr.
Patterson is also the current Chairman of the American Bankers Association
(ABA). Also present at the event was Peyton Prospere, the newly appointed
Mississippi State Treasurer.
“We are extremely proud to welcome BancorpSouth as a member of the Money
Smart Alliance Program," said FDIC Chairman Don Powell. "I am particularly
impressed by the way they have already been implementing the program and the
successes they have had in already taking more than 600 people through the Money
Smart program. BancorpSouth's example in making such a strong commitment to
community service should serve as a shining light for corporate America.”
BancorpSouth is a $10.2 billion-asset bank holding company, with 250 offices
in Alabama, Arkansas, Louisiana, Mississippi, Tennessee and Texas.
As a partner in the FDIC’s Money Smart Alliance Program, BancorpSouth will
reach low- and moderate-income individuals in these six states. BancorpSouth
will provide staff for training, classroom space and grants to community-based
partners who teach the Money Smart curriculum to local citizens.
“BancorpSouth is committed to expanding adult financial literacy,” said
Aubrey Patterson, Chairman and CEO of BancorpSouth. “We are honored to be
recognized by the FDIC for something so critical to the economic structure of
the communities in which we serve.”
"The Money Smart financial education curriculum is an excellent way to help
people gain the knowledge necessary to function within our financial system,"
said Powell. "No one is born being ‘Money Smart.’ That’s something you learn,
and the Money Smart curriculum will help people begin to establish positive
banking relationships, build assets, and move towards a secure financial future
for themselves and their families.”
Mr. Joe Mack, a Jackson State University employee who went through the
program, also spoke at the event. “Ms. Edwards of BancorpSouth worked with me
during the Money Smart classes,” said Mack. “She reviewed my credit report and
showed me how to clean it up, something I previously tried to do myself without
much success. Her suggestions worked. Now my family owns a home, has savings and
an improved credit report.”
The FDIC developed the Money Smart curriculum to help low- and
moderate-income 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 comprised 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. It can be
easily reproduced for wide dissemination and has no copyright restrictions.
Money Smart is free to users.
In addition to the English, Spanish and Chinese CD-ROM versions now
available, Money Smart is being translated into 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 go to
www.fdic.gov, or call 1-877-275-3342 or (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 9,314 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).