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Money Smart Press Releases

Louisiana Department of Social Services Joins FDIC Money Smart Alliance Program

MS-2-2005 (5-10-2005)
Media Contacts:
Clinton Vaughn (901-818-5706)
Motty Bradshaw (202-898-8680)

The Federal Deposit Insurance Corporation (FDIC) today welcomed the Louisiana Department of Social Services, Office of Family Support, Division of Community Mobilization and Outreach Services, to its Money Smart Alliance Program. The partnership was announced in Baton Rouge , LA , by FDIC Community Affairs National Coordinator Lee Bowman and Louisiana Department of Social Services Secretary Ann Williamson.

The FDIC's Money Smart financial education program is designed to help low- and moderate-income adults understand basic financial services, develop money-management skills and learn to use banking services effectively. Under today's partnership agreement, the Louisiana Department of Social Services will promote the Money Smart program to low- and moderate-income individuals and families throughout Louisiana to help them become self-sufficient.

“The FDIC is delighted to have the opportunity to partner with the Louisiana Department of Social Services,” said Bowman. “The department's work is critically important to improving the lives of so many throughout the state of Louisiana .”

Said Secretary Williamson, “As we provide support services to Louisiana residents and continue to direct them toward independence and self-sufficiency, we value this partnership with the Federal Deposit Insurance Corporation.”

Louisiana Governor Kathleen Blanco established the Solutions to Poverty (S.T.O.P.) Network, led by the Office of Family Support, to provide training to help educate citizens on financial management issues. This network is composed of multifaceted coalitions in every parish in the state, with the goal of reducing poverty in their communities. “In battling poverty within our state, we want to identify the core problems and tackle those problems. We know that financial illiteracy is one such problem that hinders personal economic prosperity,” Governor Blanco said. “I believe that by providing low-income citizens with this information, we are helping them take the first step in building assets that could lead them to improving their financial situations." 

The Louisiana State Head Start Collaboration Project (LSHSCP), along with its partners, the Louisiana Head Start Association and the Louisiana Association of Community Action Partnerships, strives to meet its goal of creating and offering support to statewide partnerships among Head Start programs, child-care programs and public school pre-kindergarten programs. LSHSCP, which has 45 member agencies representing 22,000 families, has also committed to promoting and implementing the Money Smart program.

The FDIC's Money Smart program is available from the FDIC in English, Spanish, Chinese, Korean and Vietnamese, and is free of charge. Money Smart is also available in an interactive Computer-Based-Instruction (CBI) version, which is available in both English and Spanish. The CBI version can be used to complement formal classes, serve as a refresher course, or used for independent study. It available as a CD-ROM and on the FDIC's Web site at www.fdic.gov. Instructions for obtaining copies of the curriculum can be found by clicking on the Money Smart link on the FDIC's Web site 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 8,975 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).

Last Updated 05/10/2005 communications@fdic.gov

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