Goodwill Industries and FDIC Team Up for Strong Financial Futures

Goodwill Industries International
Friday, 14 March 2003

Goodwill Industries International, Inc., and the Federal Deposit Insurance Corporation (FDIC) have teamed up to provide financial education to low-wage workers, low-income families and people who lack banking experience that receive job training and other career services from Goodwill. The training will utilize FDIC's Money Smart financial education curriculum.

"We know that people need more than a job to move out of poverty," says George W. Kessinger, President and CEO of Goodwill Industries International. "The Money Smart training program will help people learn how to budget and save money and use the banking system so they can build a strong foundation for their financial futures."

The Money Smart curriculum covers basic financial topics such as choosing and maintaining a checking account, budgeting, saving, and building and maintaining good credit. Designed to be easy to teach and easy to learn, the curriculum can be easily reproduced for wide dissemination. Money Smart has no copyright restrictions to encourage reproduction and is free to users.

"Financial education is a key element in strengthening communities and improving quality of life within every segment of our society," says FDIC Chairman Don Powell. "Through our partnership with Goodwill Industries, we will be able to help even more people develop their money management skills."

The two organizations signed a memorandum of agreement solidifying the partnership on March 14 in Washington, DC.

The FDIC is an independent federal agency created by Congress in 1933 to insure bank deposits and maintain stability and public confidence in the nation's banking system. The FDIC insures deposits at the nation's nearly 10,000 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars -- insured financial institutions fund its operations. The FDIC developed the Money Smart curriculum to help adults enhance their money management skills, understand basic financial services offered by the financial mainstream and build their financial confidence to use banking services effectively. For more information, visit www.fdic.gov.

Goodwill Industries International is a network of 207 community-based, autonomous member organizations in the United States, Canada, and 22 other countries. Each organization serves people with disabilities and other needs by providing job training and employment services, as well as job placement opportunities and post-employment support. Through its services, the network helps people overcome barriers to employment and become independent, tax-paying members of their communities. Since the organization's founding in 1902, Goodwill has helped nearly 6 million people. In 2001, more than 540,000 people benefited from Goodwill's career services. Goodwill Industries International reported $1.94 (b) in revenues, and channels 86% of its revenues directly into its programs and services. For more information, visit www.goodwill.org.

For more information, or to contact Goodwill Industries International, see their website at: www.goodwill.org