October Monthly Message
National Cyber Security Awareness is observed in October. According to the Cybersecurity & Infrastructure Security Agency (CISA), implementing safe cybersecurity best practices is important for individuals and organizations. Using strong passwords, updating your software, and thinking before you click on suspicious links will improve your online safety. The FDIC is well aware of identity theft and offers the Protecting Your Identity and Other Assets as part of the FDIC How Money Smart Are You?
For more information on how to protect you and your family from identity theft, please visit the resources below:
- CISA - Cybersecurity Best Practices
- Federal Trade Commission - Report Identity Theft and Get a Recovery Plan
Money Smart and Hispanic Heritage Month
The National Hispanic Heritage Month, celebrated between September 15 and October 15 each year, acknowledges the accomplishments and significant contributions of Hispanic Americans to our history, economy, and culture. This year’s theme, "Pioneers of Change (Pioneros del cambio): Shaping the Future Together," is intended to capture the "spirit of innovation, resilience, and unity that define the Hispanic community."
The FDIC is committed to advancing Financial Education for Hispanic/Latino individuals by, among other things, providing free, easily accessible materials, information, and resources in English and Spanish.
The Money Smart financial education program equips individuals with the necessary knowledge, tools, and resources to manage their finances effectively, access mainstream banking, and cultivate positive banking relationships. The Money Smart family offers several programs in Spanish:
- Money Smart for Adults and the financial education game How Money Smart Are You? provide individuals with practical knowledge, skills-building opportunities, and resources they can use to manage their finances with confidence;
- Money Smart for Small Business introduces entrepreneurs to topics related to starting and managing a business;
- Money Smart for Older Adults raises awareness among older adults and their caregivers on how to prevent fraud, scams, and other elder financial exploitation;
- The Parent and Caregiver Guides of Money Smart for Young People offers practical activities and conversation-starters on financial topics such as saving, setting financial goals, prioritizing spending decisions, and staying safe online;
- Our newest addition, Money Smart News for Kids, introduces basic banking terms to children about what banks do, why they are important, and how FDIC keeps your money safe; and
- Additional FDIC Spanish resources include: Abra una cuenta de banco!, Seguro de depósito, Bienvenido a EDIE, and FDIC Consumer News en Español.
Additionally, this year the FDIC will host two virtual seminars to highlight how our programs can be utilized in efforts to educate the public in preventing fraud and scams. The first one will take place October 3, 2024 at 2:00 pm ET and will be presented in Spanish. The second will be on October 10, 2024 at 2:00 pm ET and will be in English. To register, click here.
Success Story
“Money Smart has been extremely helpful material,” said Mr. Carlos Andres Lopez, Special Programs Director at MIRA USA. “We’ve been able to do 15 trainings in the last year for 60-70 volunteers.”
MIRA USA is a non-profit organization that promotes the social integration of immigrants into the United States. With a presence in 11 states, MIRA USA was part of the Juntos FDIC Pilot Program. The Juntos FDIC pilot was a year-long FDIC initiative expanding financial education in the U.S. Hispanic population through collaborations with Hispanic Serving Organizations, and the ultimate goal of disseminating FDIC Money Smart resources in English and Spanish.
Mr. Lopez said MIRA USA has grown very quickly. “We have 1,200 volunteers in 20 cities on the East Coast.” Plans to start a team in Boston are in the works for the Fall.
MIRA USA uses Money Smart for Adults, Money Smart for Small Business, and How Money Smart Are You? “We take it one step at a time,” said Mr. Lopez. “So we may do one thing at a time, like credit building.” In fact, they did a course a couple of weeks ago in New York City on credit scores and had 35 attendees.
MIRA USA is quick to respond to the financial needs of their communities. For example, when their communities saw mail theft of utility bills of seniors where thieves were calling consumers to pay the stolen bills, MIRA USA hosted two workshops using Money Smart for Older Adults to address elder abuse.
MIRA USA also launched a Youth Leadership Program to motivate young Latino leaders. Laura Bedoya, Vice President, leads the group that has 90 committee members. The leadership program has roles like president and every two years the committee leaders rotate and change. The program focuses on three areas: women leadership, business and entrepreneurship, and research. The goal is to grow that particular community.
Mr. Lopez and Ms. Bedoya do not conduct financial literacy training alone. “We have 100 trained volunteers,” said Mr. Lopez. “Sixty of them are from the Youth Leadership Program.”
“We are particularly thankful for the FDIC allowing us to use the Money Smart methodology for our workshops. In 2024, as of today, we conducted 24 workshops focused on financial education using the Money Smart in 15 cities across the United States, benefiting 823 members of our community, including business owners, adults, and seniors. Additionally, we held our 2024 Housing Fair in Atlanta, where we promoted the benefits of homeownership to our Atlanta community, providing information on responsible home buying to 1,200 members of the community. We sincerely appreciate all the support from FDIC,” said Mr. Lopez.
Congratulations to MIRA USA and their entire team for all of their successes!
MIRA USA is a Money Smart Alliance Member. For more information on the Money Smart Alliance or becoming a Money Smart Alliance member, you can click here.
Upcoming Money Smart Events
The Federal Deposit Insurance Corporation, Consumer Financial Protection Bureau, and AARP will host a webinar on October 30 at 1:00 PM EST to feature our Money Smart for Older Adults in celebration of National Cybersecurity Month. You can find more information here.
Latest FDIC Consumer News Edition
The October 2024 edition of the FDIC Consumer News is titled “Your Bank and Social Media.” The article provides information on how to interact with your bank on social media. For more information, read the full article here.
Tips and Techniques
Looking for a resource to provide financial literacy training or assistance in preparation for presentations or programs?
Are you in need of program administrators or presenters for virtual financial literacy programs?
The Association of Federal Deposit Insurance Corporation Alumni (AFDICA) is an organization of former FDIC employees devoted to Fellowship, Charity, and Financial Literacy. It maintains a robust financial literacy program centered on the FDIC Money Smart curriculum and has developed a team especially devoted to furthering financial literacy.
Any organization, public/private schools, community, civic/service, or faith-based organizations can contact us. The AFDICA offers a near complete complement to FDIC Money Smart presentations to targeted audiences, young people, young adults, or older adults, for stand alone sessions (days or hours) or up to a semester long. The AFDICA personnel would also be available to assist in your orientation and development of the Money Smart program you may be wanting to present.
Please do not hesitate to contact the AFDICA by emailing moneysmart@afdica.com, if you have any questions or would like to discuss the AFDICA financial literacy program.
This Month You Can Find Us At…
American Association of Service Coordinators in Indianapolis, Indiana, October 30, 2024.
Jump$tart National Educator Conference in Louisville, Kentucky, November 4, 2024. We will be hosting a session about the FDIC Guide to Organizing Reality Fairs.
AMLE Middle School Conference in Nashville, Tennessee, November 9, 2024.