The Financial Industry Regulatory Authority (FINRA) recently announced that its Investor Education Foundation is again teaming up with the American Library Association (ALA) to help Americans learn about financial matters. Over the past three years, this program has awarded $3.2 million to public libraries and library networks nationwide. The ALA's initiative -- Smart investing@your library® -- is targeted at public education with effective, unbiased financial education resources.
The initiative supports education to Americans in the management of personal finances and more complex decisions that can be quite challenging in this economy. The programs include resources and content that are intended to increase access to, and understanding of, financial information.
Nineteen libraries across the country have been awarded grants for this program and include urban, suburban and rural communities across the country. Grantee libraries have developed programs that range from drop-in weekly clinics to programs that will target specific communities of interest such as youth, low-income women, newer Americans, English learners and many more.
One program coordinates with a local university to involve finance students and faculty for the education of the public on various financial issues and financial planning. Another partners with local schools to reach younger audiences. The use of technology is prevalent in the programs, and includes the use of social media, such as Second Life, and on-line learning for the educational content and outreach.
The ALA will provide assistance with program marketing, outreach and evaluation.
ALA's President Camila Alire noted that "libraries are part of the solution when a community is struggling economically. From free access to books and online resources for families to library business centers that help support entrepreneurship and retraining, libraries enable lifelong learning. ... 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."
In his statement on the continued support of this program, John Gannon, the FINRA Foundation's president said that "smart decisions about personal finances and investing often begin at the local public library. 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."
Related Web Resources
More information on the FINRA Investor Education Foundation and its initiatives can be accessed at its website.
For more information on The Reference and User Services Association, which is a division of the American Library Association, visit www.ala.org.
Please feel free to contact the lawyers of Gusrae, Kaplan, Bruno & Nusbaum, PLLC for any questions or matters relating to securities law and litigation.
