federal reserve bank of chicago money smart week metro atlanta exploratory meeting february 11, 2013...
TRANSCRIPT
FEDERAL RESERVE BANK OF CHICAGO MONEY SMART WEEK Metro Atlanta Exploratory Meeting
February 11, 2013 – Georgia Center for Nonprofits
Federal Reserve
About the Federal Reserve System The Chicago Fed is one of 12 regional Reserve Banks across the United States that, together
with the Board of Governors in Washington, D.C., serve as the central bank for the United States.
Congress created the Federal Reserve System in 1913, charging it with the responsibility to foster a sound banking system and a healthy economy. This remains the broad mission of the Fed and its component parts: the 12 Federal Reserve Banks nationwide that each serve a specific region of the country, and the Board of Governors in Washington, D.C., which is set up to oversee the Fed System.
To accomplish its mission, the Fed: serves as a banker's bank and as the government's bank serves as a regulator of financial institutions serves as the nation's money manager, performing a vast array of functions that affect the
economy, the financial system, and ultimately, each of us
About the Federal Reserve Bank of Chicago The Chicago Fed serves the Seventh Federal Reserve District, an economically diverse region
that includes all of Iowa and most of Illinois, Indiana, Michigan and Wisconsin. The Seventh District has a large national share of many important economic sectors. The Chicago Fed has a head office in Chicago, branch office in Detroit, a regional office in Des Moines and a facility on the southwest side of Chicago.
Federal Reserve
Why Financial Literacy? The Economy Center of Influence The Complexity of Financial Products Role as a Regulator The Betterment of Individual Consumers Right Thing to Do
Money Smart Week
What is it? Public awareness campaign
– Helps consumers better manage their personal finances. Community Building
– Involves businesses, financial institutions, schools, libraries, not-for-profits, government agencies, media.
Education – Offers free educational seminars/activities throughout the week.
Inclusive – Covers all facets of personal finance from establishing a budget
to first time home buying to estate planning as well as reaches all demographics and income levels.
Outreach – Provides Fed opportunity to be visible in the media and
community working with a wide variety of organizations.
Money Smart Week
How did it get started? Chicago Fed & Money Smart Advisory Council Members agreed to share resources and ideas
to achieve greater public awareness of the programs and services available in Chicago.
Result: Money Smart Week 2002 –
30 organizations; 40 programs
Money Smart Week
Why it works? Asking partners to do what they do already MSW is all things for all people Fosters creativity No cost for participation but there are guidelines Proven model/best practices Coalition of the willing Association with the Fed Network infrastructure & community building Scalable
Money Smart Week
What’s the impact? Tens of thousands reached through class room
instruction each year Hundreds of thousands reached through media
and online messaging/resources each year Consumer surveys consistently yield high marks,
each year; each city/state Nearly1,500 partner organizations around the
country Community building and network infrastructure
is invaluable
Money Smart Week
When and Where is Money Smart Week?
April 20 – 27, 2013Coalitions & Campaigns: California, Georgia, Illinois, Indiana, Iowa, Maine,
Michigan, Missouri (St. Louis), Oregon, Texas (El Paso), Washington, West Virginia, Wisconsin
American Library Association: All states except Montana &
Sister Campaigns: Colorado, Kansas, Missouri (Kansas City), Nebraska, New Jersey, Texas (Houston)
Key Campaign CitiesAtlanta, GACharleston, WVChicago, ILDenver, CODes Moines, IADetroit, MIEl Paso, TXFresno, CAHouston, TXIndianapolis, INKansas City, MOLansing, MIMadison, WIMilwaukee, WIOmaha, NEPeoria, ILPortland, MEPortland, ORSeattle, WASpringfield, ILSt. Louis, Mo
Money Smart Week
Why partner with the national effort? Growth is trending national Demand Branding Efficiencies & Resource Sharing Partners with National Reach Same schedule for all states
What is the structure? Chicago Fed serves advisory and leadership role Planning teams vs individual partners National Partnership Agreements – Online resources National steering committee
Money Smart Week
What resources are currently made available to states/individual partners?
Rights to name, logo and promotional materials Customizable planning and operational documents:
History, talking points and guidelines Sample agendas, timelines and committee structures Sample press releases and media best practices Measurement and survey materials
Use of online application and MoneySmartWeek.org Ongoing consultation and guidance from Chicago
Fed
Additional Resources
Partner Kit/Chair Kit Annual Report Media Kit Best Practices Blog Social Media National Contests National Press
Money Smart Week
How can I launch a campaign in my community?
Express interest Investigate interest in the community/among
local organizations Coordinate an exploratory meeting with the
Chicago Fed and a group of local financial institutions, nonprofits, universities, libraries and government agencies
Evaluate need, determine resources and weigh costs/benefits