Federal Reserve Bank of Chicago Money Smart Week

1. Federal Reserve Bank of Chicago Money Smart Week Metro Atlanta Exploratory Meeting February 11, 2013 – Georgia Center for Nonprofits

2. 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.

3. 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

4. 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.

5. 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

6. 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

7. 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

8. 2012 National Summary • 2,729 reported events • 110,832 reported attendees • 1,482 registered partners

9. National Zip Code Map

10. Money Smart Week Media involvement

11. Money Smart Week Promotion

12. Money Smart Week Key Campaign Cities Atlanta, GA Charleston, WV Chicago, IL Denver, CO Des Moines, IA Detroit, MI El Paso, TX Fresno, CA Houston, TX Indianapolis, IN Kansas City, MO Lansing, MI Madison, WI Milwaukee, WI Omaha, NE Peoria, IL Portland, ME Portland, OR Seattle, WA Springfield, IL St. Louis, Mo When and Where is Money Smart Week? April 20 – 27, 2013 Coalitions & 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)

13. 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

14. 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

15. Additional Resources • Partner Kit/Chair Kit • Annual Report • Media Kit • Best Practices Blog • Social Media • National Contests • National Press

16. 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

17. Annual Report

18. New Website

19. Money Smart Week -Questions?