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Money Smart Press Releases

FDIC Introduces a Portable Audio (MP3) Version of the Money Smart Financial Education Curriculum

FOR IMMEDIATE RELEASE
June 4, 2009
Media Contact:
David Barr (202) 898-6992
Luke Reynolds (202) 898-6724

The Federal Deposit Insurance Corporation (FDIC) has released the Money Smart Podcast Network, the portable audio (MP3) version of the award-winning Money Smart financial education. The new version of Money Smart is suitable for use with virtually all MP3 players so that consumers of all ages can learn to make informed and prudent financial decisions while "on the go."

"Innovations and new product offerings make financial education even more important than ever. Just as products innovate, delivery channels for financial education must innovate, said FDIC Chairman Shelia C. Bair. "The new audio version of Money Smart is a tool for consumers to learn on their own, and it is also a tool for educators seeking an innovative way to supplement traditional classroom instruction."

With verbal descriptions and topic based scenarios, the audio version of Money Smart utilizes detailed dialogue to convey basic critical financial information. These segments are grouped into four general categories. The release of the Money Smart Podcast Network is part of the FDIC's ongoing effort to integrate the unbanked and underbanked into the financial mainstream.

The Money Smart Podcast Network was released at the University of the District of Columbia (UDC). UDC is a Historically Black College and University and the only urban public land grant institution in the nation. UDC's Cooperative Extension Service already delivers the instructor-led version of Money Smart to low-and moderate-income Washington, DC residents, and will be the FDIC's first partner in distributing the MP3 version of Money Smart to consumers. According to Jackie Boynton, Vice President of Marketing, Communications, and Alumni Relations at UDC, "We are pleased to be the first partner of this extremely important financial initiative and are looking forward to continuing to partner with the FDIC on other initiatives such as this one."

The portable audio version of Money Smart is available free of charge, easily reproduced, and has no copyright restrictions. For more information, or to order copies, visit: www.fdic.gov/moneysmart.

The Money Smart curriculum brings proven results in how those who complete the curriculum manage their finances. Over two million consumers have had the opportunity to learn how to better manage their finances and more effectively use mainstream banking services through the Money Smart curriculum.

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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 8,246 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, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). MSPR-1-2009




Last Updated 6/4/2009 communications@fdic.gov