Hands - On Learning to Build Financial Habits

U.S. Department of the Treasury

Description

Recent Programmatic Resources ï‚· ï‚· ï‚· ï‚· ï‚· ï‚· ï‚· Guidance to Encourage Financial Institutions’ Youth Savings Programs and Address Related Frequently Asked Questions, issued by the FRB, FDIC, NCUA, and OCC, as members of the FLEC, together with the FinCEN of the U.S. Department of the Treasury. “School-Based Bank Savings Programs: Bringing Financial Education to Students,” OCC’s Community Development Insights report (http://www.occ.gov/topics/communityaffairs/publications/insights/insights-school-based-bank-savings-programs.pdf), an OCC Insights report that discusses how school-based bank savings programs operate and overviews several key considerations for banks participating in these programs. OCC Fact Sheet: http://www.occ.gov/topics/community-affairs/publications/fact-sheets/factsheet-bank-savings-incentive-programs.pdf. A letter encouraging FDIC-supervised institutions to work with schools to promote financial education, including school-based savings programs: http://www.fdic.gov/news/news/financial/2010/fil10080.html. Other relevant resources from the FDIC are available at: https://www.fdic.gov/consumers/banking/youthsavingspilot/resources.html. Various resources for credit unions engaged in this work are available from the National Credit Union Administration: http://www.ncua.gov/Resources/FinancialLiteracy/Pages/default.aspx. NCUA webinar on how credit unions can put their financial literacy mission into action: http://event.on24.com/eventRegistration/EventLobbyServlet?target=lobby.jsp&eventid=7569 99&sessionid=1&key=7908E7594C56D7425B316B8D50F95301&eventuserid=103659848. Educational Resources for Youth Various free resources that support the financial education instruction component of youth savings programs can be found at www.mymoney.gov. Agency Community Affairs Contacts The FRB, FDIC, and OCC have community affairs staff throughout the country that may be able to assist financial institutions and their community partners with regulatory questions, increasing awareness of promising practices, and opportunities for fostering collaboration. Obtain further information on the agency Community Affairs Programs at: ï‚· FRB: http://www.federalreserve.gov/communityaffairs/ ï‚· FDIC: http://www.fdic.gov/consumers/community/ ï‚· OCC: http://www.occ.gov/topics/community-affairs/index-community-affairs.html ï‚· NCUA: http://www.mycreditunion.gov/Pages/contact.aspx Share your story! To share success stories or provide feedback on this document, email: ofe@treasury.gov. 4 .