NORTH CAROLINA BANKERS ASSOCIATION JOINS
FDIC'S MONEY SMART ALLIANCE PROGRAM
FOR IMMEDIATE RELEASE MS-17-2003 (12-08-2003)
Media Contacts: Rosemary George (202) 898-6530
The Federal Deposit Insurance Corporation (FDIC) today announced that the North Carolina Bankers Association (NCBA) has joined its Money Smart Alliance Program. Donald E. Powell, Chairman of the FDIC, and Kel Landis, Chairman of the North Carolina Bankers Association, made the announcement today at the FDIC's headquarters in Washington, D.C.
As a Money Smart Alliance Partner, the NCBA will encourage its member banks to adopt the Money Smart financial education curriculum and teach specific modules during its summer camp program, Camp Challenge. Each year, Camp Challenge enables more than 100 high-achieving middle school students from economically challenged backgrounds to spend three weeks in the mountains of North Carolina learning public speaking, entrepreneurial skills, personal finance, and techniques for conflict resolution, as well as enjoying more familiar camp activities.
"Camp Challenge is dedicated to the development of young adults - one of our most precious resources," said FDIC Chairman Don Powell. "The North Carolina Bankers Association, through Camp Challenge, is strengthening the future of our country by empowering these bright young people to reach their full potential. I am proud that Money Smart will be used to help them learn how to build secure financial futures for themselves and, later, for their families."
"Through this partnership, we are all committed to and working diligently toward providing communities across our state with the preparation required for them to be more astute in their financial dealings," said Kel Landis, Chairman of the NCBA. "The FDIC's
Money Smart program is at the very heart of what North Carolina's banks are achieving through their ongoing financial literacy initiatives and community outreach."
The NCBA is a trade group made up of 132 banks, savings institutions, and trust companies. In addition, the NCBA has nearly 200 affiliate members, as well as companies that provide products and services to the banking industry. The NCBA is active in the North Carolina general assembly and the United States Congress. The NCBA also provides educational and training programs, media relations, insurance benefits programs, regulatory and compliance assistance and other services to its member financial institutions.
The FDIC developed the Money Smart program to help low- and moderate-income individuals understand basic financial services, develop money management skills, and learn how to use banking services effectively. Money Smart is available from the FDIC in English, Spanish, Chinese and Korean and is free of charge to the user.
Instructions for obtaining copies of the curriculum can be found by clicking on the Money Smart link at www.fdic.gov or by calling (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 9,237 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.