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FDIC AND THE ASSOCIATION OF MILITARY BANKS OF AMERICA JOIN FORCES FOR WORLDWIDE PROMOTION OF MONEY SMART CURRICULUM

FOR IMMEDIATE RELEASE
FDIC-PR-91-2002 (8-27-02)
Media Contact:
Rosemary George (202) 898-6530

The Federal Deposit Insurance Corporation (FDIC) today announced that the Association of Military Banks of America (AMBA) has joined its Money Smart Alliance Program. The announcement was made by Donna Gambrell, Deputy Director of the FDIC's Division of Supervision and Consumer Protection (DSC), and by Henry W. Neill, Jr., Executive Vice President of AMBA, at a signing ceremony held at the FDIC's headquarters in Washington, D.C.

As a member of the Money Smart Alliance, the AMBA will promote the FDIC's Money Smart financial education program to its member banks located in the United States and overseas. Henry Neill, AMBA's Executive Vice President, stated "This agreement between AMBA and the FDIC assures military banks will have the finest professional training materials available when conducting financial education programs for our nation's military personnel."

AMBA is a not-for-profit association that represents FDIC-insured banks providing financial services for U. S. military personnel, their families and other government agencies worldwide. AMBA's membership is composed of about 150 national and state-chartered banks operating on military installations throughout the world, military banking facilities designated by the U.S. Treasury Department, and banks not located on military installations but serving military customers. AMBA members range in size from small community banks to large multinational financial institutions.

"Our partnership with AMBA allows us to share Money Smart with military financial institutions that serve the banking needs of the thousands of military personnel and their families," said FDIC Deputy DSC Director Donna Gambrell.

The FDIC has also accepted an invitation to speak on Money Smart at AMBA's Annual Workshop being held in Vancouver, Canada, September 22 - 24, 2002.

The FDIC developed the Money Smart program to help individuals enhance their money management skills, understand basic financial services offered by the financial mainstream and build their financial confidence to use banking services effectively. The Money Smart curriculum is a set of ten comprehensive instructor-led units of instruction covering basic financial topics. It is available at no cost to users and may be reproduced as needed.

Anyone interested in financial education can use Money Smart. 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. In addition to the English and Spanish versions now available, Money Smart is being translated into Korean and Chinese. Those versions are scheduled for release in 2003.

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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 9,538 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 (800-276-6003 or (703) 562-2200).

Last Updated 08/27/2002 communications@fdic.gov