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PR-73-2002 (6-26-2002)
Media Contact:
Rosemary George (202) 898-6530

As part of the national rollout of the Federal Deposit Insurance Corporation's (FDIC) Spanish-language version of its highly successful Money Smart financial education program, several new initiatives were announced today at a news conference in San Antonio, Texas.

General Howard D. Graves, Chancellor of the Texas A&M University System announced a Memorandum of Understanding (MOU) between the FDIC and the University's Texas Cooperative Extension Services Program to provide "Train the Trainer" sessions for Money Smart through their network of County Extension Agents in all 254 counties throughout Texas. Diane Rath, Chairman of the Texas Workforce Commission, announced that the Hillcrest Workforce Center in San Antonio will kick off the first official FDIC Spanish-language Money Smart classes in Texas.

San Antonio Mayor Ed Garza; Henry Rosales, Chairman of Texas Workforce Advocates; Alamo Workforce Board Executive Director Alan Miller; and Linda Rivas, President of SER Jobs for Progress described how their organizations will use the Spanish-language Money Smart.

State Representative Arthur Reyna talked about meeting the needs of the Hispanic population in his district.

Anyone interested in financial education can use Money Smart. The materials are easily reproduced and have no copyright restrictions. Copies can be obtained from the FDIC and are free to the user. In addition to the English and Spanish versions now available, Money Smart is being translated into Korean and Chinese. Those versions are scheduled for release in 2003.

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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 9,538 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 or through the FDIC's Public Information Center (800-276-6003 or (703) 562-2200).

Last Updated 06/26/2002

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