September 12, 2008
FOR MORE INFORMATION, CONTACT
David Barr
FDIC
Telephone: 202-898-6992
E-mail:dbarr@fdic.gov
Gemma M. Miner
Camp Fire USA
Telephone: 816-285-2028
E-mail: gemma.miner@campfireusa.org
FDIC AND CAMP FIRE USA PARTNER TO TEACH YOUNG PEOPLE TO BE MONEY SMART
The Federal Deposit Insurance Corporation (FDIC) and Camp Fire USA, one of the nation‘s leading youth development organizations, announced today a new partnership to help young people learn the basics of handling their money and finances.
The FDIC's Money Smart for Young Adults and Money Smart for Adults financial education curricula will be made available this fall to 44 local Camp Fire USA affiliate councils through a series of pilot train-the-trainer sessions. Local councils will then make the curricula available to youth, parents and families within the communities that they serve.
"Financial education is the first step to financial stability for entire families and their communities," said FDIC Chairman Sheila Bair. "The earlier young people learn how to use bank accounts and credit responsibly and effectively, the more likely they are to start good savings and financial habits that will last a lifetime," Bair added.
"Camp Fire USA is pleased to partner with the FDIC to help youth become more financially literate," stated Jill Pasewalk, Camp Fire USA National President and CEO. " Our primary goal is to provide support and opportunities that help young people to become self-sufficient young adults. We know that one factor that measures success in early adulthood is learning how to save for the future, buy intelligently and avoid excessive debt."
The Money Smart for Young Adults curriculum was adapted for ages 12 to 20 from the award-winning version of Money Smart for adults. The FDIC's goal is to provide the curriculum, which is free of charge, to as many youth as possible through partnerships with organizations that reach young adults, such as Camp Fire USA.
The FDIC‘s Money Smart for Young Adults curriculum helps instructors teach youth between ages 12 and 20 the basics of handling their money and finances, including how to create positive relationships with financial institutions. The curriculum is aligned with educational standards for all 50 states and the District of Columbia, in addition to Jump$tart national financial literacy standards and the National Council on Economics Education's national economics standards.
Each of the eight instructor-led modules in Money Smart for Young Adults includes a fully scripted instructor guide, participant guide and overhead slides. The materials also include an optional computer-based scenario that allows students to complete realistic exercises based on each module, such as shopping for a credit card. The curriculum is free and can be customized to meet audience needs.
FDIC
Congress created the Federal Deposit Insurance Corporation (FDIC) in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,451 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. To learn more about the FDIC or the Money Smart programs, visit www.fdic.gov.
Camp Fire USA
Camp Fire USA is one of the nation's leading nonprofit youth development organizations, serving 750,000 participants each year. Founded in 1910, Camp Fire provides all-inclusive, coeducational programs in hundreds of communities across the United States. By design, Camp Fire‘s programs, which include small group experiences, after-school programs, camping and environmental education, child care, and service-learning, build confidence in younger children and provide hands-on, youth-driven leadership experiences for youth. For more information about Camp Fire USA, visit www.campfireusa.org.