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Money Smart

Money Smart Newsletter

March 2024

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Last Updated: March 7, 2024

In This Issue

March Monthly Message from the FDIC

Women’s History Month is recognized in March every year. Did you know that Maggie Lena Walker was the first black woman to establish and become president of a bank in the United States? She established St. Luke Penny Savings Bank in 1903 and served as president of the bank.

If you would like to know more about her, and women in banking, check out the links below:

Money Smart and Money Madness

According to the U.S. Government Accountability Office, credit card balances in the summer of 2023 reached over $1 trillion. With nearly 82 percent of U.S. adults having at least one credit card, U.S. debt levels keep climbing.

Not all debt is bad, though. In fact, an important factor of financial well-being is the ability to get and maintain good credit.

Using credit wisely is an important topic. That is where you and Money Smart can help. Teaching others to understand the elements of credit, like credit scores and reports, the different types of loans, interest rates and payment schedules, and the consequences of late payments or not repaying a loan, can help strengthen their credit scores and financial stability.

You can help raise awareness of the elements of credit by teaching some of the Money Smart courses below:

Money Smart for Young Adults: Module 7: Borrowing Basics, Module 8: Charge It Right, Module 9: Buying a Car, and Module 11: Paying for Education and Training

Money Smart for Adults: Module 6: Credit Reports & Credit Scores, Module 7: Borrowing Basics, Module 8: Managing Debt, Module 9: Using Credit Cards, Module 13: Buying a Home, and Module 11: Protecting Your Identity

Money Smart for Small Business: Planning for a Healthy Business and Banking Services Available for Small Business

How Money Smart Are You?: Borrowing Basics, Credit Reports and Scores, Managing Debt, Using Credit Cards, and Making Housing Decisions

Additional resources for wise credit card usage include FDIC Consumer News: August 2023 Credit Cards for Young Adults, January 2023 Credit Card Checks and Cash Advances, and November 2021 Credit Cards. You can also find information on the Consumer Financial Protection Bureau’s website: Credit Cards.

Whichever Money Smart course you use to assist consumers with credit, keep in mind bankable moments when they receive funds. If you have an innovative way to teach credit, loans, or bankable moments, let us know at We would be happy to feature you and your methods in an upcoming Money Smart Newsletter.

Upcoming Money Smart Events

The Federal Deposit Insurance Corporation (FDIC) will host a webinar on April 2 at 1:00 PM EST to feature our newest youth product: Money Smart News for Kids. FDIC Money Smart News for Kids includes nine chapters, which introduce basic banking terms to children, who are perhaps just beginning to learn about finances. Each issue builds upon the next and introduces two characters who try out different financial concepts along the way. You can find more information here.

You can find information on Money Smart Train the Trainer events and our quarterly Money Smart Alliance webinar here.

Latest FDIC Consumer News Edition

The March 2024 edition of the FDIC Consumer News is titled “Thinking About Moving to Another Bank?” which provides tips to help people decide which bank is right for them. Read the full article here.

Tips and Techniques

Credit reports and credit scores have an impact on the ability to get credit. When you are teaching about credit, it may be a good time for participants to take a look at their free credit report. A good website to order free credit reports from is

With a little more than a month to go before the tax filing deadline, for those getting a refund this year, remember the safest and quickest way to get a refund is by choosing direct deposit when filing electronically. As you reach out to your local community during filing season, it is a good time to remind people to #GetBanked.

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