Money Smart Week ® @ your library A national initiative between the American Library Association and the Federal Reserve Bank of Chicago Michael Dowling,

Money Smart Week ®

@ your library

A national initiative between the

American Library Association and the Federal Reserve Bank of Chicago

Michael Dowling, Director Chapter Relations Office

and International Relations Office

American Library Association

[email protected]

What is Money Smart Week®?

• Money Smart Week® is a public awareness campaign designed to help consumers better manage their personal finances.

• Achieved through the collaboration and coordinated effort of hundreds of organizations across the country including businesses, financial institutions, schools, libraries, not-for-profits, government agencies and the media.

• 11th year! Money Smart Week began in 2001 as a coordinated effort of the Federal Reserve Bank of Chicago and a Money Smart Advisory Council working together to promote personal financial literacy. The Money Smart Week model has since spread throughout the Midwest and around the country with successful campaigns in more than a dozen states and growing.

• Money Smart Week partnered with the American Library Association (ALA) in 2010 to launch Money Smart Week @ your library nationally.

ALA Key Action Area

• Literacy

The ALA assists and promotes libraries in helping children and adults develop the skills they need-the ability to read and use computers-understanding that the ability to seek and effectively utilize information resources is essential in a global information society.

Why Libraries?

• Mission• Part of the Solution• New Partnerships• Access and Visibility• Ecosystem (state libraries, state and regional

associations, regional systems, public libraries,

school libraries, academic libraries, special libraries• Sends important message to trustees,

city officials, and taxpayers• Springboard for ongoing library financial

education programming and projects

Designing Program Topics

• Money Savvy Kids• Retirement Planning• Smart Investing• Financial Recordkeeping• College Financing• Savings Strategies • Credit & Debt

www.usfinancialcapability.org/

ALA Partnership With FINRA

http://smartinvesting.ala.org

2011 Money Smart Week @ your library results

• Libraries in 30 states participated (mainly public libraries) (Athens-Clark County, Chestatee Regional, Jefferson, Winder)

• 47% surveyed had not done financial literacy programming before

• 83% found partners for programming

• 70% said MSW @ your library efforts met expectations

• 86% will participate in 2012 (14% not sure)

MSW Wisconsin History

• 2006 – 5 communities in Wisconsin

• 2007 – 12 planning committees• FDL: 50 events at library, mall, colleges,

schools, senior center, etc. = 300 attendees

• 2008 – 13 planning committees• FDL: 50 events at 2 libraries, 1 university

& large employers = 499 attendees

• 2009 – 23 planning committees• FDL: 120+ events at 5 libraries, 1 technical

college & large employers = 1,000+ attendees

• 2010 – 27 planning committees• WI: 600+ events, 12,500+ attendees, 453 nonprofit & corporate partners• FDL: 60+ events at 5 libraries & large employers = 500+ attendees

Wisconsin Survey Results

• 97% attendees find sessions valuable or very valuable

• 85% attendees are likely or very likely to change their money habits based on what they learned

• 95% attendees are likely or very likely to recommend a MSW class to friends or family

• How patrons hear about programs:– Printed pamphlet-like

calendars distributed through partners

– Newspaper– Word of mouth– Internet– Billboard– Bill inserts (bank

statements, etc.)– Company newsletter

Building Effective Partnerships

• Local, state, federal government agencies• Schools & colleges

– Faculty, student services– University Extension offices

• Professional associations• Media• Nonprofits • Banks & credit unions

Money Smart Week Iowa Partners•AARP •Bank of the West •Bettendorf Family Museum •Bettendorf Public Library •Better Business Bureau of Greater Iowa •Cedar Rapids Bank & Trust •Cedar Rapids Public Library •Center for Financial Success  •Community Bankers of Iowa  •Community Business Lenders •Community Corrections Improvement Association •Creditwise, LLC •Davenport Public Library •Deere Harvester Community Credit Union •DM Neighborhood Resource Office •Document Destruction and Recycling Services •EdCo Community Credit Union •Edward Jones Investments •Federal Deposit Insurance Corporation   •Federal Reserve Bank of Chicago •Four Legacies Mortgage •Gazette Communications •Goodwill of the Heartland •Grant Wood Area Education Association •Hiawatha Public Library •Horizons Consumer Credit & Counseling Service •Iowa Association for Business and Industry  •Iowa Association of Student Financial Aid Administrators •Iowa Attorney General's Office  •Iowa Bankers Association  •Iowa College Access Network •Iowa College Aid Commission •Iowa Credit Union League  •Iowa Department of Education •Iowa Division of Banking

•Iowa Insurance Division •Iowa Society of Certified Public Accountants  •Iowa State Treasurer  •Iowa Public Television •Iowa Society of Certified Public Accountants •Iowa State Bank •Iowa State University Extension •Johnston Public Library •Junior Achievement of Eastern Iowa •Kelley Insurance Center — Drake University  •Kirkwood Community College •Marion Public Library •Metro Library Network •Moline Public Library •Moline School District •QC Dollarwi$e •Quad-City Times •Rock Island Public Library •Rock Island School District •Royal Neighbors of America Foundation •SCORE •State Historical Society of Iowa •State Library of Iowa •Taxpayer Advocate Service •The Family Credit Union •The Financial Specialists •The National Bank •The Women’s Connection •UBS Financial Services •United Way of Central Iowa •University of Illinois Extension •University of Iowa Community Credit Union •US Bank •U.S. Senator Charles Grassley •U.S. Small Business Administration •Wealth Advisors of Iowa •Wells Fargo Bank  •West Des Moines Public Library

Publicity

Money Smart Week @ your library website

www.moneysmartweek.org/ala

Specific MSW @ your library downloadable materials

No Sale Pitches Allowed

Women and Finance program in 2009

2008 • Millionaire’s Mind• ABC’s of Retirement• Shred Day

2009• Women and Finance• Time to Fill Your Buckets and

Retire• Shred Day

2010• Shred Day

2011• Identity Theft• Shred Day• Multigenerational Program• AARP Tax Assistance

Johnston Public Library’s MSW programs

Money Smart Kids’ Contest Fond Du Lac, WI

• Purpose: Start financial literacy early & get families talking about money

• Contests: Essay, YouTube, Dollar Design • Awards: State Treasurer awards 529 account

scholarships; partners donate bonds, t-shirts, “Fondopoly” games, pencils, etc.

School Libraries

Academic Libraries

Northeastern Illinois University

Trident Technical College, SC

2011 Money Smart Week @ your Library

Programs

Credit Basics

Financial Aid Basics

Deal or No Deal (Savvy Shopping)

Identity Theft

Getting There While Saving Fare (Going Green)

Other Ideas … FASFA How to write a scholarship essay College planning Grant Writing How to start your own small business or foundation Saving for Retirement and College! How and where to find a job

Resume & cover letter writing Searching for jobs online How to recover from a job loss

Cooking on a budget Coupon Club Protecting your finances in times of crisis or divorce

How To Participate in Money Smart Week @ your library

Thanks!