Financial Literacy

The Get Smart About Credit Day
The Get Smart About Credit Day is held every October. Volunteer bankers across Tennessee will visit colleges, high schools, freshman orientations, youth groups, and continuing education classes to teach students how to budget, use credit cards responsibly and build a positive payment history.

TBA Personal Economics Program (PEP)
Over 100 banks across Tennessee participate in the Personal Economics Program, a consumer education effort that promotes understanding of banking and financial services by enhancing the public's knowledge of economic systems, specifically as they relate to banking and personal financial management. In the past year, Tennessee's PEP program reached over 63,000 people through some 2,000 presentations, thanks to 400 volunteer bankers. To find out if the PEP program is availabe in your area contact the Tennessee Bankers Association at 800/964-5525.

Tennessee Saves Coalition
TennesseeSaves is a state-wide campaign in which The University of Tennessee Agricultural Extension Service, working with other state and national organizations, helps individuals and families save and build wealth.

The Jump$tart Coalition for Personal Financial Literacy
The Jump$tart Coalition for Personal Financial Literacy seeks to improve the personal financial literacy of young adults. Jump$tart's purpose is to evaluate the financial literacy of young adults; develop, disseminate, and encourage the use of standards for grades K-12; and promote the teaching of personal finance. The Jump$tart Coalition believes that all young adults need to have the financial literacy necessary to make informed financial decisions.

National Teach Children to Save Day
Teach Children to Save is a national campaign that raises awareness about the important role that banks and bankers play in helping young people develop lifelong savings habits. The program has reached 4 million young people with the help of some 97,000 banker volunteers through its annual awareness day and the Teach Children to Save Web site: 
www.teachchildrentosave.com. Learn More about Teach Children to Save


ICBA Resources on Financial Literacy

 

 

NEW INITIATIVES

Financial Capability Innovation Fund

The Center for Financial Services Innovation (CFSI) has a new grant fund—the Financial Capability Innovation Fund—to support promising nonprofit-led projects designed to help consumers better manage their finances and achieve financial prosperity.

 

National Financial Literacy Capability Challenge

The Obama Administration marked the 2010-2011 school year by emphasizing the importance of financial education and launching its National Financial Capability Challenge. The program includes a voluntary, online exam and a classroom toolkit to help educators teach high school students about saving, budgeting, investing, the safe use of credit, and other important skills critical to developing strong financial knowledge and capability.

CFPB Releases First Financial Literacy Report
The Consumer Financial Protection Bureau has issued the first report on its Dodd-Frank mandate to improve Americans’ financial literacy. The bureau outlined a number of initiatives and described its strategy—which it said focuses on "identifying opportune moments to engage consumers about their financial decisions and providing information, tools, or other decision-making supports to help with those decisions."  
 
The report describes the bureau’s outside partnerships for delivering financial education—including through K-12 schools, workplaces, faith groups, and neighborhood organizations—as well as the CFPB’s collaborations with social service providers, the Defense Department, and the FDIC’s Money Smart program. It also notes that the CFPB offers direct online assistance to consumers in both English and Spanish, as well as resources on paying for college.
 
Read the report.



EDUCATIONAL RESOURCES

 

Bank It

Capital One and the Search Institute sponsor the "Bank It(SM)" program. Bank It provides teens and parents with information and tools designed to make it easier to understand, discuss, and manage money. Through an interactive Web site and local workshops, the program empowers families to explore budgets, goals, and strategies for making financial choices.

 

Building Your Future

The Actuarial Foundation, a nonprofit organization that distributes materials to enhance the teaching and learning of mathematics, offers its Building Your Future curriculum to help high school students understand personal finance. To receive a free set of teacher and student workbooks, send your name, the school name, and mailing address to programs@actfnd.org.

 

CredAbility

CredAbility offers consumer credit and debt counseling and education to individuals and families. In addition to one-on-one, telephone and web-based counseling, monthly webinars on a variety of topics are offered in English and Spanish.

 

Don't Be a Target

The Consumer Federation of America has information on fake check scams and similar frauds to prevent victimization.

 

Economic Lowdown

The Federal Reserve Bank of St. Louis offers a podcast series for high school students produced by the Economic Education department. The series gives students information on economics, personal finance, banking, and monetary policy.

 

Fraud Scene Investigator

The North American Securities Administrators Association has an interactive investor education Web site for classroom and home use.

 

Interactive Online Activities

The Federal Reserve Bank of Cleveland presents interactive online games to teach children the history of money and financial decision making.

 

Seniors: Protect Yourself From Investment Fraud

The U.S. Securities and Exchange Commission offers this guide to help seniors avoid investment fraud.

 

Starting Out on Your Own: Personal Finance Tips for Young Adults

The Federal Deposit Insurance Corporation's Consumer News provides young adults, who may be starting out on their own after college and in careers, with financial management tips.

 

Trick$ of the Trade: Outsmarting Investment Fraud

The Financial Industry Regulatory Authority's (FINRA) Investor Education Foundation produced this documentary featuring noted fraud and persuasion experts, victims, and criminals to help investors understand investment scams. Learn what factors put investors at risk, the science of persuasion, and how to avoid investment scams.

 

Your Money

The U.S. Securities Exchange Commission's Your Money podcast provides information to help individual investors achieve their saving and retirement goals.

HelpWithMyBank.govThe OCC's HelpWithMyBank.gov Web site provides answers to approximately 250 commonly asked banking questions. While targeted to national bank customers, the site answers many questions common to all banking consumers and provides useful information about contacting regulators of state banks, thrifts, and other financial institutions; and includes an online complaint form for bank customers wishing to register their concerns to the OCC. Information is also available in Spanish. A link from HOPE NOW to HelpWithMyBank.gov has been established.

MyMoney.govMyMoney.gov is the U.S. government's Web site dedicated to teaching the basics about financial education. The redesigned, interactive site offers information from 20 federal agencies and bureaus about planning for life events that have financial implications, such as buying a home, balancing your checkbook, or planning for retirement. The site also provides money management tools, including financial calculators and worksheets.