Ronni K. Cohen, Executive Director 3301 Green Street Claymont, DE 19703

1. One of the most active organizations in the field of financial education is the Delaware Financial Literacy Institute. Charles Bogle ~ Delaware Banker, Winter 2005 Ronni K. Cohen, Executive Director 3301 Green Street Claymont, DE 19703 302.792.1200 ronni@delawaremoneyschool.com

2. Mission Statement The Delaware Financial Literacy Institute is a not-for-profit 501(c)(3) organization whose mission is to help individuals - especially those of low to moderate income - become equipped with the tools to get their financial lives in order so that they can become self-sufficient and enjoy financial well-being over time.

3. Brief History The successful 1999 Every Woman’s Money Conference led State Treasurer Jack Markell to create the Delaware Money School to keep the financial dialogue alive. In 2001, the Delaware Financial Literacy Institute (DFLI), a 501 (c)(3), was established to create and direct financial literacy initiatives, including the Delaware Money School. In June 2002, DFLI opened for business in an office in the Claymont Community Center.

4. Fast Facts! • DFLI, a 501(c )(3) nonprofit organization, is not a state agency; it is funded entirely by grants and contributions from corporations, foundations, government, and individual donors. • All Delaware Money School classes are free. • In 2005, instructors volunteered over 1,800 hours and taught more than 500 classes. • A DMS class is held somewhere in the state almost every day of the week! • The Power of Partnerships: The capacity of DFLI is greatly enhanced by its many partnerships and collaborations with nonprofit, corporate, and government agencies.

5. WHY IS FINANCIAL EDUCATION NECESSARY? A FEW FACTS… • 60% of U.S. households carry over some portion of credit card debt every month with an average monthly balance of more than $4,000. • Between 1990 and 1999, there was a 51% increase in annual bankruptcy filings among adults 25 years of age and younger. • 20% of families with an annual income below $50,000 spend close to half of their net income on debt payments. • One out of every two marriages today ends in divorce; the leading cause cited of marital problems is financial issues. • Money is a topic most people avoid discussing. • Financial education is not required for graduation in Delaware

6. FINANCIAL EDUCATION… • builds financial literacy and changes financial behavior for the better. • is critical in overcoming financial obstacles and the stress finances can cause. • is especially important for low-income families becauseit is the foundation needed to build assets. Only by creating savings and understanding & establishing credit can individuals achieve the ultimate goal of securing assets…such as a business, a home, or education.

8. Delaware Money School • DFLI’s signature program • Over 500 FREE classes are held across the state annually. • All classes are taught by volunteers. • The quarterly brochure is mailed to 10,000 residents; an additional 10,000 are sent to libraries and organizations. • 38,000 “payroll stuffers” are included in state employees’ checks each quarter. $ $ $

9. Delaware Money School • Our dynamic website and our call center allow students to register for classes and obtain general information 24 hours a day, 365 days a year! • More than 5,000 additional students are served each year by special request classes held at work sites, conferences, and religious, civic, and community organizations. • Special partnerships with agencies such as AARP, CEEE, and Interfaith Housing Delaware increase our capacity.

10. From Purses to Portfolios: Delaware Women Take Charge of Their Money was established in 2004 to meet women’s unique financial needs. This comprehensive program of on-going classes, newsletters, and seminars helps women understand and take control of their financial lives to create their own financial security and well-being for the future.

11. The Take Charge Delaware Woman Certificate Program encourages on-going financial education. To date, participants have logged over 4,500 hours in two years. • The 2006 Purses conference attracted over 1,500 women from across the state. In fact, 1,700 women registered in 12 days! • Saturday morning community events are held at Delaware Technical Community College campuses across the state. • 75 women (and a few men!) were honored for their commitment to financial education in October 2006.

12. BANK AT SCHOOL • Over 10,000 elementary students have participated in the Bank At School Program since 1992, depositing their savings at 30 school “branches.” • A partnership with the Center for Economic Education and Entrepreneurship (CEEE), State Treasurer Jack Markell, and Bank Commissioner Robert Glen to administer the Bank At School Program. • BankAtSchool.com was launched in 2004 to help promote the program and archive our newsletter, Money Talk$. $ $ $

13. *ME Competition *Meaningful Economic and Entrepreneurship • One of largest statewide academic events for elementary students, *ME brings together 500 third through sixth graders to compete in problem solving, team production, and a test of economic, entrepreneurship, and personal finance skills. • The event is held in both the northern most and the southern most parts of the state over three days. • Members of the corporate, legislative, and educational communities serve as judges. • 2006 marks the 20th anniversary of this event! $ $ $

14. ME* Competition

15. Money $marts • Annual State Treasurer’s Summit for High School Juniors • Conferences for middle school students and their parents • CFED matched savings program for students • Mad About Money, an interactive performance by the National Theatre for Children, was held in 2005. • Monthly 2 page feature in NewsJournal Business Monday $ $ $

16. Money Talk$ • The Money Talk$ program helps teachers implement personal finance concepts and State Standards in Economics. • Teachers in Grades K-12 who impact more than 15,000 students annually participate in Money Talk$ workshops and a Summer Graduate Institute. • Money Talk$, a quarterly financial education newsletter with standards-based lessons, resources, and extensions, is mailed to 6,000 teachers and parents. • DFLI is state-licensed to grant continuing education hours to childcare providers for Money School classes and a course on how to use children’s books to teach about money

17. New Initiatives • Train the trainer programs for Head Start and child care providers • Money School classes on using the EITC split refund for savings • Financial education for pre-release and work release prisoners • Partnership with Delaware Coalition Against Domestic Violence (DCADV) to provide financial education to victims of domestic abuse • An entrepreneurship camp for at risk students (Summer 2007) • Online financial education & teleconferencing • First State Saves (Spring 2007) • Where Hou$e: an online directory of free financial education resources (Winter 2007)

18. OUR PARTNERS are critical to our capacity building and success… • Office of the State Treasurer • Center for Economic Education and Entrepreneurship • Office of the State Bank Commissioner • Delaware Money School Instructors • AARP Delaware • Boys and Girls Club • Delaware Coalition Against Domestic Violence • Consortium for Entrepreneurship Education • Consumer Credit Counseling Services of Delaware and Maryland and of Delaware Valley • Delaware Association for Adult/Community Education • Delaware Bankers Association • Delaware Commission for Women • Delaware Community Reinvestment Action Council • Delaware Division of Libraries

19. More Partners… • Delaware Money Management Program • Delaware Small Business Development Office • Delaware Technical and Community College • Fannie Mae • Federal Reserve Bank of Philadelphia • First State Community Loan Fund and First State Community Action Agency • Howard High School Academy of Finance • Interfaith Housing of Delaware • Junior Achievement Delaware • Metropolitan Wilmington Urban League • Nehemiah Gateway • Public Allies (Americorps) • Read Aloud Delaware • Senior Centers across Delaware • U.S. Senator Thomas Carper • University of Delaware Cooperative Extension • YWCA Delaware

20. Money isn’t everything. Understanding it is. Delaware Money School Financial Education. Knowledge is your greatest asset. Citigroup The cornerstone of a successful financial plan is – above all – you. A sign in Wilmington Trust We get by with a little help from our friends. Beatles’ song