New Federal Education Commission Launches First Major Initiatives

The FDIC is committed to promoting financial literacy, which is why we have been working hard to expand our Money Smart financial education program. That’s also why the FDIC is pleased to play a key role, working with the U.S. Treasury Department and other federal government agencies, in a new federal Financial Literacy and Education Commission created by Congress in 2003. On October 12, 2004, the Commission announced its first major initiatives -- a financial education “toolkit” and a special Web site.

The toolkit is available free of charge and includes information on deposit insurance, investments, personal savings, Social Security benefits, choosing a credit card, and other personal financial management tips. The FDIC helped develop the toolkit with the Treasury Department, the Office of Thrift Supervision, the General Services Administration’s Federal Citizen Information Center, and other members of the Commission. The toolkit is available by calling the Commission’s toll-free hotline at 1-888-MY MONEY (that’s 1-888-696-6639).

Also, the Commission’s new Web site -- www.mymoney.gov -- will serve as an online clearinghouse for information about federal financial literacy and education programs.

“The toolkit and Web site are positive first steps for the federal government’s campaign to make financial education a national priority,” said FDIC Chairman Don Powell. “The FDIC is pleased to play a leadership role in providing financial education products and services to consumers and in helping to showcase the excellent resources offered by other federal agencies.”