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January 01 2008

Operation HOPE Joins FDIC to Launch New Young Adult Financial Literacy Curriculum As Money Smart Program Surpasses Milestone

HOPE and FDIC sign memorandum of agreement; HOPE serves as FDIC’s lead partner in this important national financial literacy initiative for young adults
 

WASHINGTON, DC – April 14, 2008 – Financial literacy and empowerment leader, Operation HOPE (HOPE) today joined with Federal Deposit Insurance Corporation (FDIC) to announce their historic partnership to empower young adults through the delivery of FDIC’s new Money Smart for Young Adults curriculum.  HOPE serves as FDIC’s lead partner. The organization joined FDIC officials and others at the Lamond campus of the HOPE Community Public Charter School for the announcement.  

John Hope Bryant, HOPE founder, chairman and chief executive officer, who earlier this year was appointed vice chair for the U.S. President’s Advisory Council on Financial Literacy, believes that partnerships such as these provide a gateway to wed the public sector with the private and the non-profit sector. During the event, Bryant told assembled guests and the media, “This collaboration should serve as a model for collaborative partnerships, proving that government, community and the private sector can work together for the good, and ensuring that every community is treated with dignity, and is given an opportunity for financial success. I want to make sure we leave no community behind. I cannot think of a better place to make this announcement than the HOPE Community Public Charter School , a beacon for students looking for a hand-up, not a hand-out, ‘Silver Rights’ in action in young people’s lives.”  

Created by Congress in the early 20th century to maintain stability and public confidence in the nation’s financial system, the FDIC insures deposits, examines and supervises financial institutions, and manages receiverships of insured financial institutions. The independent agency also makes available a free financial education curriculum for teaching adults nationwide how to manage their money. As a result, more than one million citizens have been reached through Money Smart to date. In surpassing this significant milestone, the FDIC now makes a version of the program available specifically for young adults with the introduction of Money Smart for Young Adults.   

The Money Smart for Young Adults curriculum helps youth between ages 12 – 20 learn the basics of handling their money and finances, including how to create positive relationships with financial institutions.  It is aligned with educational standards for all 50 states and the District of Columbia , in addition to Jump$tart’s national financial literacy standards and the National Council on Economic Education 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.  The material is based on the award-winning Money Smart adult education curriculum that brings proven results in how those who complete the curriculum manage their finances. Available in English, Spanish, Chinese, Korean, Vietnamese, and Russian, as well as in a large print/Braille version, the computer-based version was enhanced as of the end of 2007; the English version is now available, and the Spanish version will be available later in 2008.   

As a non-profit, public benefit organization, HOPE makes the development and “privatization of inner-city and underserved communities” a top priority. Senior Vice President of HOPE’s Governmental Relations & Public Policy, Jena Roscoe was very pleased with the joint effort. “HOPE has incorporated some of the key components of Money Smart in our award-winning youth financial literacy curriculum, Banking on our Future, and we look forward to furthering the relationship we have established with the FDIC in 2002.” The silver rights movement is about making free enterprise and capitalism finally work for the poor. Operation HOPE sees this initiative as a powerful step in the right direction, in-line with HOPE’s values.  

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About HOPE Charter School

Founded in September 2007, the mission of HOPE Community Public Charter School , Lamond Campus is to positively shape the hearts and minds of students by providing them with an academically rigorous, content rich curriculum, an environment in which character is modeled and promoted, and a community in which to build trusting relationships with others.  HOPE Community Public Charter School Lamond Campus located in Washington, D.C. opened in September of 2007. For more, visit: www.hopecommunitycs.org  

 

 

About The Federal Deposit Insurance Corporation (FDIC)

 

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 8,560 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, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-28-2008. For more on Money Smart program is available at www.fdic.gov/moneysmart