The Financial Industry Regulatory Authority (FINRA) Investor Education Foundation and the American Library Association (ALA) have announced $1,522,122 in grants to 19 recipients as a part of the Smart investing@your library® initiative to provide millions of library patrons with effective, unbiased financial education resources.
Smart investing @ your library®, which is administered jointly by the Reference and User Services Association, a division of ALA, and the FINRA Investor Education Foundation, funds library efforts to assist Americans as they manage their day-to-day finances and navigate complex financial decisions. Now in its third year, the program has awarded a total of $3.2 million to public libraries and library networks nationwide.
Grant recipients will use the funds to implement a variety of programs and create resources designed to increase patrons' access to and understanding of financial information. The grants target a diverse group of library patrons—among them youth, seniors, English language learners, new Americans and low-income individuals. Participating libraries and library networks will use a variety of technologies and outreach strategies to connect library users to the best available financial education and information. These strategies include online learning, classroom formats, one-on-one clinics and educational activities conducted in virtual worlds. The grantees will partner with community organizations, schools, universities, veterans organizations and local governments to expand the impact of the services and resources enabled by the grants. Library patrons will be given the tools and resources to make educated financial choices for both long-term investing and day-to-day money matters.
"Libraries are part of the solution when a community is struggling economically," said ALA President Camila Alire. "From free access to books and online resources for families to library business centers that help support entrepreneurship and retraining, libraries enable lifelong learning. I would like to thank the FINRA Foundation for its continued investment in our nation's libraries. We are thrilled that through the FINRA Foundation's generous support, Smart investing @ your library® grantees will have the resources to provide library users with access to unbiased investor education."
"Smart decisions about personal finances and investing often begin at the local public library," said John Gannon, president of the FINRA Foundation. "By nearly doubling last year's funding for Smart investing @ your library®, we are helping to turn library cards into passports for people hoping to arrive at a brighter financial future."
The grantees, which serve urban, suburban and rural communities across the country, will receive one-to-two years of funding, in addition to assistance with program marketing, outreach and evaluation provided by ALA.
The new grant recipients are:
Albany Public Library, Albany, N.Y., $55,055
The library will develop and market a weekly drop-in clinic that gives
one-on-one reference assistance and referrals for tax preparation customers.
Alliance Library System, East Peoria, Ill., $100,000
Alliance will deliver saving and investing information through social media
targeting individuals ages 13 to 35. It will also provide online and
face-to-face investor education programs through six public libraries, the
virtual world of Second Life and an outreach van that travels to community
events and public libraries in small, rural communities throughout central
Illinois.
Bolivar County Library System, Cleveland, Miss., $33,500
The library system will provide financial education programs for low-income
women under age 30 living in the Mississippi delta.
Brooklyn Public Library, Brooklyn, N.Y., $95,480
Brooklyn Public Library will reach low-income working adults with a six-part
financial education series in four locations, inclusive of workshops and group
counseling sessions offered in partnership with New York City's Office of
Financial Empowerment and other city agencies. The library will also conduct
workshops at multiple locations to help teens build their money-management
skills.
Estes Valley Library, Estes Park, Colo., $62,203
Estes Park Public Library will partner with the local public schools to improve
the financial literacy of children and teens throughout the Estes Valley. The
library will also sponsor programs that provide practical money skills to young
parents and young workers in the area.
Georgetown County Library, Georgetown, S.C., $87,300
Georgetown County Library and its partners will educate the community about
money matters through a series of creative multimedia activities that reference
the county's economic history and that appeal to the different learning styles
and interests of residents of all ages. The library and partner organizations
will conduct outreach to area childcare providers, the county detention center,
the local board of disabilities and special needs and other agencies for the
purpose of improving the basic financial literacy of those in need.
Greensboro Public Library, Greensboro, N.C., $96,500
The grant will enable public librarians to collaborate with students and faculty
from the economics and finance department of North Carolina A&T State
University to provide a sequential financial literacy experience for library
users ages 13 to 18. The library will also make available one-on-one counseling
at its neighborhood branches on selected topics of importance to teens as they
begin to take on financial responsibilities in their lives.
Houston Public Library, Houston, Texas, $99,000
Houston Public Library will partner with the University of Houston and community
organizations to offer a bilingual financial education series (from money basics
to investing fundamentals) for the city's English- and Spanish-speaking
families.
Libraries of Eastern Oregon, Fossil, Ore., $98,175
This consortium will reach population centers in 15 rural communities in
Umatilla and Morrow counties with in-person and distance learning on a wide
range of financial literacy topics. It will disseminate programs for senior
citizens and Latino and Native American residents through partnerships with
community colleges and other agencies, and create personal finance book clubs in
English and Spanish.
Jacksonville Public Library, Jacksonville, Fla., $100,000
The library will partner with Florida State College's Military Education
Institute and Veterans Center, the City of Jacksonville's Military Affairs and
Veterans Office and the city's Disabled Services Office to help meet the
financial education needs of northeast Florida veterans, active-duty
servicemembers and military spouses using workshops and online learning.
Lewiston City Library, Lewiston, Idaho, $89,485
Lewiston City Library will collaborate with area high schools to create an
"Investment Day" competition for students, establish morning
investment clubs to reinforce financial and investment concepts among students,
organize an investment fair and develop online video and audio presentations on
investing topics.
Los Angeles Public Library, Los Angeles, Calif., $100,000
The library will collaborate with community organizations to improve
understanding of basic financial concepts and resources among ethnic
communities, and present in-person workshops with the help of these
community-based partners in Chinese-, Korean-, Spanish- and English-speaking
neighborhoods.
Middle Country Public Library, Centereach, N.Y., $77,400
In partnership with area museums, Middle Country Public Library will create an
interactive, traveling exhibit on money-related topics for students in grades
kindergarten through five to be installed in the library's "museum
corner" and to be accompanied by a schedule of family financial literacy
nights with concurrent workshops for parents and children. The library will also
design personal finance kits that include books, media and games for classroom
and home use.
Multnomah County Library, Portland, Ore., $100,000
The library will partner with the Oregon Society of CPAs and community
organizations to help two high-need audiences: "parents at risk"
(defined as low income and low literacy) and seniors susceptible to financial
fraud. The project will pilot a "road show" model with a team that
visits retirement centers, Head Start programs and other nonprofits to provide
hands-on learning on financial topics such as money management and online
banking.
Pike County Public Library District, Pikeville, Ky., $34,362
The library district will develop multigenerational financial education programs
for consumers, partner with the school system to present programs in all
elementary and high schools in this rural county and collaborate with the Pike
County Extension Office to offer monthly programs on planning for retirement.
Queens Library, Jamaica, N.Y., $100,000
Queens Library will collaborate with local nonprofits to provide investor
education programs to immigrant and low-income residents in English, Spanish,
Chinese, Bengali, Korean and other languages. The library will partner with
financial educators from nonprofit agencies that will offer individualized
consultations on basic financial concepts and safe, effective financial
practices.
State Library of Iowa, Des Moines, Iowa, $98,251
This grant will enable a statewide financial literacy program serving 25 rural
communities. The state library will partner with the Ames Public Library and
Iowa State University Extension to deliver and replicate online and face-to-face
classes for the public, and to design a statewide marketing campaign in support
of financial education.
Virginia Beach Public Library, Virginia Beach, Va., $51,906
The library will deliver in-person and virtual financial literacy learning
opportunities for youth ages 12 to 18 as they prepare to assume financial
responsibilities in their lives. It will also conduct outreach to a nearby high
school for pregnant teens and a juvenile detention center to help educate
residents on money management basics.
York County Library System, York, Pa., $43,505
The library system will develop interactive, multigenerational programs in
English and Spanish at branch libraries and focus on building financial
knowledge within York County families with children ages 5-7.
The FINRA Investor Education Foundation supports innovative research and educational projects that give underserved Americans the knowledge, skills and tools necessary for financial success throughout life. For details about grant programs and other FINRA Foundation initiatives, visit www.finrafoundation.org.
