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FDIC Announces Vietnamese Language Money Smart Initiative in California's “Little Saigon”

FOR IMMEDIATE RELEASE
MS-05-2004 (2-11-2004)
Media Contact:
Rosemary George (202) 898-6530

The Federal Deposit Insurance Corporation (FDIC) today announced the release of its Vietnamese-language version of Money Smart, the FDIC’s adult financial education curriculum, at a news conference in Orange County, CA’s “Little Saigon,” home to the largest concentration of Vietnamese in the U.S. The announcement was made in conjunction with the official launch of the Vietnamese curriculum in Washington, D.C. and another event in Houston, Texas. The news conference was held at Nguoi Viet, Inc. located in the heart of “Little Saigon” in Westminster, CA.

“Since we introduced Money Smart two and a half years ago, more than 100,000 people have taken the course,” said FDIC Chairman Don Powell. “For this achievement, Money Smart received the prestigious 2003 Service to America Award from the Partnership for Public Service. Now this new Vietnamese language version will enable Money Smart to reach even more people, and to help them learn how to begin building assets and secure their financial futures.”

The Vietnamese version of Money Smart has been eagerly awaited by community-based groups, financial institutions, and government agencies that serve Vietnamese communities across the country.

According the U.S. Census figures, the number of Vietnamese in the United States more than doubled between 1990 and 2000. The largest concentration of Vietnamese is found in California, Texas, and the suburbs of Washington, DC.

“We are honored to announce the release of Vietnamese Money Smart here in “Little Saigon,” which has the largest Vietnamese population in America,” said Nancy E. Hall, Regional Director of the FDIC’s San Francisco Region. “The basic knowledge of the U.S. banking system taught through Money Smart will give the Vietnamese community in Orange County an effective tool to strengthen the economic growth and prosperity that they have achieved over the past 28 years since arriving on U.S. soil. Our San Francisco Community Affairs program is committed to reaching the Vietnamese populations throughout our region, including San Jose, Salt Lake City, Fresno, the Pacific Northwest, and Hawaii,” said Hall.

Hall also acknowledged the FDIC’s national partner, Boat People SOS, for their invaluable contributions in reviewing the Vietnamese language Money Smart curriculum for accuracy and cultural sensitivity.

In addition to the newly released Vietnamese version, Money Smart is currently available in English, Spanish, Chinese, and Korean. An interactive computer-based version for individuals is due out later this year. Any organization interested in financial education can use Money Smart. For information and instructions on how to obtain copies of the curriculum, click on the FDIC Money Smart link at www.fdic.gov, or send an e-mail to publicinfo@fdic.gov.

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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.

FDIC press releases and other information are available on the Internet at www.fdic.gov or contact the FDIC’s Public Information Center (877-275-3342 or 202-416-6940).




Last Updated 2/11/2004 communications@fdic.gov