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

2012 National Summary

2,729 reported events

110,832 reported attendees

1,482 registered partners

National Zip Code Map

Money Smart Week

Media involvement

Money Smart Week

Promotion

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

Annual Report

New Website

Money Smart Week

-Questions?