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The FDIC Makes Joining the Money Smart Alliance Program Easier

February 15, 2017 / Source: FDIC

Financial Institution Letters
FIL-8-2017
February 14, 2017


Printable Format:
FIL-8-2017 - PDF (PDF Help)
Summary:
The FDIC's Money Smart Alliance program is a network of financial institutions, nonprofits, and governmental organizations that use the FDIC's financial education curriculum to provide training to consumers, small businesses, and others. Qualified organizations can join the alliance or renew their membership on the program's recently enhanced website that also offers the ability for organizations to find potential collaborators and for consumers to find the names of organizations that may be offering training. These organizations may also be interested in an introductory webinar that will be held February 28, 2017.
Statement of Applicability to Institutions under $1 Billion in Total Assets: This Financial Institution Letter applies to all FDIC-supervised commercial and savings banks, including community institutions.
Highlights:

  • Money Smart is the FDIC's nationally recognized, free financial education program for people of all ages and for small businesses. The Money Smart Alliance is a network of diverse organizations that use Money Smart to provide financial education training to organizations, consumers, and small businesses. Alliance members benefit by shaping the development of new or enhanced Money Smart products and outreach strategies. The FDIC communicates with members through newsletters, webinars, conference calls, and training sessions.
  • Federally insured financial institutions and other organizations are invited to use a new short online form to join or renew their free membership in the Money Smart Alliance. Also eligible for alliance membership are: nonprofit organizations that have been recognized as tax-exempt by the IRS; federal agencies; K-12 schools or school districts, colleges or universities; and other state or local government agencies.
  • Organizations that joined the alliance before November 2015, but have not yet renewed their membership using the new form must do so by March 15, 2017, to remain listed as alliance members on the FDIC website.
  • On or about March 30, 2017, consumers can use the new search function on the alliance's enhanced webpage to find member organizations that may be offering training. Financial institutions and nonprofits also can use the new search function to further identify resources to support the development of financial education collaborations.
  • The next webinar offering an introduction to the Money Smart program and the alliance will be held on February 28, 2017. Register here.

Contacts:
Nicola Myers, Community Affairs Specialist, Division of Depositor and Consumer Protection, at nmyers@fdic.gov or (202) 898-7174
Bobbie Gray, Supervisory Community Affairs Specialist, Division of Depositor and Consumer Protection, at bgray@fdic.gov or (202) 898-7148
moneysmartalliance@fdic.gov
Note:
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's website at https://www.fdic.gov/news/news/financial/2017/.
To receive FILs electronically, please visit https://www.fdic.gov/about/subscriptions/fil.html.
Paper copies may be obtained via the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (877-275-3342 or 703-562-2200).