FDIC creates new Money Smart group for banks, offers early access to Money Smart for Adults

Banks and thrifts that join the Federal Deposit Insurance Corp. (FDIC) Money Smart Advance Team (MSAT) will get early access to the instructor-led Money Smart for Adults curriculum slated for release this September, the FDIC said in a new Financial Institution Letter.

The MSAT is open to all federally insured banks and savings institutions that engage, or plan to engage, in financial education activities. Created as subset of the Money Smart Alliance, the MSAT will operate through winter 2019, according to the letter (FIL-32-2018).

FDIC notes the following benefits of joining the MSAT:

  • Advanced copies of the updated, instructor-led Money Smart for Adults products;
  • Training to orient staff to the new materials prior to public offering; and
  • Eligibility for recognition in a special edition of Money Smart News in 2019 that will highlight several noteworthy examples of curriculum implementation.

The updated Money Smart for Adults will feature new design, content, activities, and modules; modernized learning tools; and will incorporate instructional best practices and feedback from users.

Current Money Smart Alliance members will need to add Money Smart for Adults to their member profile by August 1, 2018, to join the MSAT. For more information and to join, visit the FDIC’s Money Smart website by July 1; during the enrollment process, indicate the organization’s planned use of Money Smart for Adults.

FDIC FIL-32-2018