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FDIC Brings Money Smart to Financial Literacy Day on Capitol Hill

FOR IMMEDIATE RELEASE
MS-09-2004 (4-21-2004)
Media Contact:
Rosemary George (202) 898-6530

The Federal Deposit Insurance Corporation (FDIC) will take its award-winning Money Smart financial education curriculum to Capitol Hill on April 22 as part of the second annual Financial Literacy Day on Capitol Hill. The event, which is part of Financial Literacy Month, will be held in the Senate Dirksen Office Building from 1:00 p.m. to 4:00 p.m. and is designed to familiarize members of Congress and their staff with major financial literacy initiatives. Financial Literacy Day On Capitol Hill is sponsored by the National Council on Economic Education, Junior Achievement, the Goldman Sachs Foundation, and the Jump$tart Coalition.

"We are pleased to take part in the second annual Financial Literacy Day on Capitol Hill," said FDIC Chairman Don Powell. "Education is the key to sound money management, which is why the FDIC developed a financial education curriculum geared to low- and moderate-income adults. We wanted to provide tools to help people build a secure future for themselves, their families, and their communities."

Chairman Powell, who also chairs a subcommittee of the Congressionally-mandated Financial Literacy and Education Commission, noted that there are scores of state and local agencies across America that are working with financial institutions, schools, nonprofit organizations and businesses to provide financial education to people of all ages.

"Our experience with the Money Smart program has shown us the value of forging these types of dynamic partnerships," said Powell. "Since we rolled out Money Smart three years ago, more than 100,000 people have taken classes offered by our partners, and over 14,000 new banking relationships have been established. This is a clear indication of the hunger that is out there for financial education, and an example of how knowledge empowers people to take control of their lives and make better decisions about their finances."

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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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 9,182 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 04/21/2004 communications@fdic.gov