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Money Smart Press Releases

Mission of Peace Community Development Corporation Joins FDIC's Money Smart Alliance Program

FOR IMMEDIATE RELEASE
MS-17-2004 (11-4-2004)
Media Contact:
Motty Bradshaw (202-898-8680)

The Federal Deposit Insurance Corporation (FDIC) has announced that the Mission of Peace Community Development Corporation (Mission of Peace CDC) and its network affiliates have joined the FDIC's Money Smart Partnership Alliance Program.

Mission of Peace CDC, a faith-based non-profit organization that provides homeownership counseling to individuals and families, is a U.S. Department of Housing and Urban Development National Housing Counseling Agency with an affiliate network of approximately 45 housing counseling agencies throughout the country.

As a partner in the Money Smart Alliance Program, Mission of Peace CDC will encourage its affiliate network nationwide to adopt the Money Smart curriculum. Mission of Peace CDC will incorporate the Money Smart curriculum into the services it already offers, which include counseling in basic banking, home buying, credit and budget, and individual development accounts. The goal of the partnership is to provide financial education linked to Mission of Peace CDC asset-building programs to 50,000 individuals and families.

"The FDIC is pleased to partner with Mission of Peace CDC in bringing the Money Smart financial education curriculum to faith-based communities across the country," said Donna Gambrell, Deputy Director of the FDIC's Division of Supervision and Consumer Protection. "Learning the principles of sound money management is critical to building a secure financial future for families and, ultimately, the communities they live in."

"Mission of Peace CDC is proud to be a part of the FDIC's Money Smart Alliance Program," said Mission of Peace CDC Executive Director, Rev. Elmira Smith-Vincent. "Partnering with FDIC will allow Mission of Peace CDC to break down another important barrier to home ownership by working together to eliminate financial literacy. Providing our customers with knowledge allows them to become educated homeowners."

The FDIC developed the award-winning Money Smart curriculum to help adults develop their money-management skills, understand basic financial services and build confidence about effectively using banking services. Among the topics that are covered are the basics of borrowing, how to save effectively, consumer rights, keeping track of your money, and how credit histories affect your credit future. Money Smart is free of charge to the user and is available on CD-ROM, for instructor use, in English, Spanish, Chinese, Korean and Vietnamese. Additionally, the FDIC recently released an interactive Computer-Based Instruction (CBI) format on CD-ROM. The Money Smart CBI can be used to complement formal classes, serve as a refresher course, or be used in independent study. It is available in both English and Spanish.

To learn more about Money Smart, visit the Money Smart page on the FDIC's Web site at http://www.fdic.gov/consumers/consumer/moneysmart/index.html. In the three years since Money Smart was released, more than 294,400 adults have completed the course and more than 39,180 new banking relationships have been established by Money Smart students. Money Smart was recently awarded a Service to America medal by the Partnership for Public Service.

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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 9,079 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 11/04/2004 communications@fdic.gov