Money Smart Press Releases FDIC Welcomes Four National Hispanic Organizations
to Money Smart Alliance Program
FOR IMMEDIATE RELEASE MS-13-2004 (9-10-04)
Media Contacts: Tibby Ford (202-898-8693)
Motty Bradshaw (202-898-8680)
The Federal Deposit Insurance Corporation (FDIC) today announced that four national Hispanic organizations have joined its Money Smart Alliance Program. The new national Alliance partners are: Bert Corona Leadership Institute; MANA, A National Latina Organization; SER-Jobs for Progress National, Inc.; and The ASPIRA Association, Inc.
“We have a long-standing commitment to reach out to the Hispanic community in the area of financial education, so we are very pleased to welcome these organizations as national partners in our Money Smart Alliance Program—particularly on the eve of Hispanic Heritage Month,” said Don Powell, Chairman of the FDIC. “There is a strong need throughout the Latino community for lessons on banking practices and sound money management. These four organizations are well-positioned to use our Money Smart curriculum to help members of Latino communities understand basic financial services and learn how to use banking services effectively.”
The organizations and their missions are:
Bert Corona Leadership Institute (BCLI). BCLI targets and serves migrant and immigrant populations by providing training programs for youth, adult educators, service providers, parents, and personnel working within migrant and immigrant organizations in the United States and across the Americas.
On BCLI becoming a national Money Smart alliance partner, E. Francisco Lopez, President and CEO of BCLI, said: “It is a strategic decision to incorporate financial education into BCLI's training and to partner with the FDIC, who is committed to the importance of this training to future leaders from migrant and immigrant communities.”
MANA, A National Latina Organization. MANA, A National Latina Organization, is a nonprofit advocacy organization established to empower Latinas through leadership development, community service and advocacy. MANA fulfills its mission through programs designed to develop the leadership skills of Latinas, promote community service by Latinas, and provide Latinas with advocacy opportunities.
“Hispanics may be the largest minority group in the country but remain at the lowest levels economically,” said Alma Morales Riojas, President and CEO of MANA, A National Latina Organization. “Nonetheless, our almost $700 billion purchasing power places us at almost ninth worldwide as an economic power. Financial literacy is a priority for MANA, A National Latina Organization, and our partnership with FDIC will provide training at the local level to the Hispanic community.”
SER-Jobs for Progress National, Inc. SER is a national-private nonprofit organization that operates throughout the United States and Puerto Rico serving economically disadvantaged members of the community with different programs for the purpose of placing participants into permanent, unsubsidized and productive employment.
“SER National is proud to partner with the FDIC Money Smart Program,” said Ignacio Salazar, President and CEO of SER-Jobs for Progress National, Inc. “As the oldest Latino organization dedicated to workforce development, SER Jobs for Progress also wants to assist Hispanics by enabling them to make wise use of their earnings. A household at a time, we will build strong communities through the development of money management skills providing individuals with the tools to build future wealth.”
The ASPIRA Association, Inc. The ASPIRA Association, Inc. is the only national nonprofit organization devoted solely to the education and leadership development of Puerto Rican and other Latino youth. Since 1961, ASPIRA has pursued its mission of empowering the Latino community through the development of its youth. Since its founding, ASPIRA has provided a quarter of a million youth with the personal resources they need to remain in school and contribute to their community.
Ronald Blackburn-Moreno, President & CEO of The ASPIRA Association, Inc., stated: “Financial education is part of Aspira's community Wealth Development Initiative, a major institutional milestone for the Aspira Association. We are committed through this effort to increase our community financial literacy. In this effort we are joining forces with FDIC, which is committed to this endeavor.”
In addition to agreeing to teach and promote financial education in the Hispanic community using the Money Smart curriculum as National Money Smart Partners, these organizations have also agreed to incorporate the FDIC's new Web-based interactive Money Smart program.
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, Korean and Vietnamese 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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banking system. The FDIC insures deposits at the nation's 9,079 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 (877-275-3342 or 202-416-6940).