FEDERAL RESERVE BANK
OF CHICAGO
MONEY SMART WEEK
Metro Atlanta Exploratory Meeting
February 11, 2013 – Georgia Center for Nonprofits
Federal Reserve
About the Federal Reserve System
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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.
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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.
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To accomplish its mission, the Fed:
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serves as a banker's bank and as the government's bank
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serves as a regulator of financial institutions
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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
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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.
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
Money Smart Week
What is it?
 Public awareness campaign
– Helps consumers better manage their personal finances.
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Community Building
– Involves businesses, financial institutions, schools, libraries, not-for-profits,
government agencies, media.
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Education
– Offers free educational seminars/activities throughout the week.
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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.
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Outreach
– Provides Fed opportunity to be visible in the media and community
working with a wide variety of organizations.
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
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
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
2012 National Summary
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2,729 reported events
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110,832 reported attendees
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1,482 registered partners
National Zip Code Map
Money Smart Week
Media involvement
Money Smart Week
Promotion
Money Smart Week
Key Campaign Cities
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)
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
Money Smart Week
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Why partner with the national effort?
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Growth is trending national
Demand
Branding
Efficiencies & Resource Sharing
Partners with National Reach
Same schedule for all states
What is the structure?
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Chicago Fed serves advisory and leadership role
Planning teams vs individual partners
National Partnership Agreements – Online resources
National steering committee
Money Smart Week
What resources are currently made available to
states/individual partners?
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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
Additional Resources
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Partner Kit/Chair Kit
Annual Report
Media Kit
Best Practices Blog
Social Media
National Contests
National Press
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
Annual Report
New Website
Money Smart Week
-Questions?