Money Smart Week ® @ your library

1. Money Smart Week ®@ your library A partnership between the Federal Reserve Bank of Chicago and the American Library Association Michael Dowling, Director Chapter Relations Office and International Relations Office American Library Association mdowling@ala.org

2. www.usfinancialcapability.org/ • 60% of people nationally live paycheck to paycheck • 60% of people do not have a rainy day fund of three months income • 62% of people did not comparison shop for a credit card • 66% of households with dependent children are not saving for their child’s college education • 58% have not even tried to figure out how much they need to save for retirement

3. Why Libraries? • Mission • Part of the Solution • Good Unbiased Trustworthy Partners • Access and Visibility • Ecosystem (state libraries, state and regional associations, regional systems, public libraries, school libraries, academic libraries, special libraries) • STRICTLY NO SELLING at any MSW event

4. Maine Libraries Participating in 2012 • Bangor Public Library • Falmouth Memorial Library • Waterville Public Library

5. Great Partnership Fit for ALA • Collaborate with Trusted Partner- Federal Reserve Bank of Chicago • Take Successful Regional Program National- Get libraries across the county involved. • All types of libraries can participate- Libraries can assist their communities at any level • Literacy is a key ALA Action Area – Assists and promotes libraries in helping children and adults develop the skills they need-the ability to read and use computers- the ability to seek and effectively utilize information resources is essential in a global information society. • Incorporate ALA ‘@ your library’ branding

6. Other ALA Financial Literacy Initiative Smart Investing @ your library grantees Curtis Memorial Library, Brunswick Camden Public Library

7. www.moneysmartweek.org

8. Over 250 Libraries in 38 States in 2012

9. Reach New Partners for Libraries and ALA • Federal Government (FED, SEC, FDIC, Social Security Administration, SBA) • State Government (Treasurer, Banking, Insurance, Employment) • Associations (Business, CPA, Financial Services) • Companies (Credit Unions, Banks) • Media (Newspapers, Radio, Television) • University (Student Services, Finance/Business Dept., Extensions) • School (PTA, Junior Achievement)

10. Money Smart Week Iowa Partners

11. Key Bank Foundation as Partner

12. National and Local Media

13. Opportunities for Statewide Coalitions 2006 – 5 communities in Wisconsin 2007 – 12 planning committees • Fond du Lac: 50 events at library, mall, colleges, schools, senior center, etc. = 300 attendees 2008 – 13 planning committees • Fond du Lac: 50 events at 2 libraries, 1 university & large employers = 499 attendees 2009 – 23 planning committees • Fond du Lac: 120+ events at 5 libraries, 1 technical college & large employers = 1,000+ attendees 2010 – 27 planning committees WI: 600+ events, 12,500+ attendees, 453 nonprofit & corporate partners Fond du Lac: 60+ events at 5 libraries & large employers = 500+ attendees 2011 – Financial Literacy Summit (transition from Oct to April) 2012-- 26 planning committees (some consolidation)

14. 2012 Consumers Survey Results • 98% attendees find sessions valuable or very valuable • 91% attendees are likely or very likely to change their money habits based on what they learned • 95% attendees are likely or very likely to recommend a MSW class to friends or family • How patrons hear about programs: • Printed pamphlet-like calendars distributed through partners • Newspaper • Word of mouth • Internet • Billboard • Bill inserts (bank statements, etc.) • Company newsletter

15. Possible Program Topics • Money Savvy Kids • Retirement Planning • Smart Investing • College Financing • Savings Strategies • Credit & Debt • Financial Recordkeeping • Cooking on a budget • Coupon Club • Protecting your finances in times of crisis or divorce • Identity Theft • How to start your own small business or foundation

16. Programming (Johnston Public Library, Iowa) • 2008 • Millionaire’s Mind • ABC’s of Retirement • Shred Day • 2009 • Women and Finance • Time to Fill Your Buckets and Retire • Shred Day • 2010 • Shred Day • 2011 • Identity Theft • Shred Day • Multigenerational Program • AARP Tax Assistance

17. Shred DaySpringfield Greene Co. Library (Missouri) • The Library’s contracted shredding company set up their truck in our parking lot • High attendance: in 4 hours, 67 patrons • Patrons (and shredding company) asked us to do this more! • Patrons were especially thankful that this service was provided • Library received credit for poundage shredded

18. Coupon MomsSpringfield Greene Co. Library (Missouri) • Workshop on couponing for moms, with companion story time for kids • Attendance: 24 • Great timing: The staff really knew when moms and kids were in the library, and this presentation was of high interest to them. • The attendees went on to continue meeting about coupons outside the library!

19. Money Smart Kids’ Contests(Fond Du Lac Public Library) Purpose: Start financial literacy early & get families talking about money Contests: Essay, YouTube, Dollar Design Awards: State Treasurer awards 529 account scholarships; partners donate bonds, t-shirts, “Fondopoly” games, pencils, etc.

20. Bunny Money • Story time using popular book Max and Ruby’s Bunny Money • Activity: Kids decorated a shopping bag, were given “bunny money”, and could go to different tables and decide what to purchase with their money (candy, etc) • Check out at the cash register • Attendance: 23

21. Programs for Kids & Families • Regional “Big Read” • Just Saving My Money by Mercer Mayer • 17 participating libraries + 2 bookstores held same story-time programs • Kids received a free copy of the book • “Family Moolah Fun Day” • Treasure hunt, money bingo, wheel of trivia • Penny the Pig • Piggy bank with four slots (spending, saving, investing & donating)

22. Money Smart Programs for Teens

23. Successful Adult Programs • When I’m 65 (Medicare, Medicaid benefits) Presented by a County Senior Benefit Specialist Employee • Retirement planning Presented by a local financial planner • Estate Planning Presented by a lawyer & financial planner • Investing 101 Presented by a financial educator • Money Saving Travel Tips Presented by a AAA representative • Shred Fest

24. Money Smart Week @ your academic library(Northeastern Illinois University)

26. Trident Technical College, SC • Credit Basics • Financial Aid Basics • Deal or No Deal (Savvy Shopping) • Identity Theft • Getting There While Saving Fare (Going Green)

27. School Libraries

28. 2011 Money Smart Week @ your library results • Libraries in 30 states participated (mainly public libraries) • 47% surveyed had not done financial literacy programming before • 83% found partners for programming • 70% said MSW @ your library efforts met expectations • 86% will participate in 2012

29. ALA/Libraries Section of Website Resources Program Ideas Promotional Material www.moneysmartweek.org/ala

32. How do libraries participate? • Sign up online at MoneySmartWeek.org/ALA • Provide at least one class during MSW (April 20 – 27) • Use current relationships with financial education presenters, or ask for ideas of possible presenters • Use promotional materials to publicize events • Register events into online database • Report program attendance, and survey evaluation results

33. Downloadable Logos and Promotional Materials

34. Bookmarks for Sale from ALA • $10 pack of 250 (plus shipping and handling)

35. Money Smart Week @ your library 2013 • Increase overall participation, but especially more academic and school libraries • Fall promotion through webinar and state library conference presentations • Connect state library associations and state libraries to MSW coalitions

36. Money Smart Week @ your library!! Join other libraries in Maine, and hundreds across the country in this national initiative to help your community to better manage their personal finances! Mark your Calendars for April 20-27, 2013!