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Resources Freddie Mac Credit Smart Website National Endowment for Financial Education Dept. of Housing and Urban Development Social Security Administration Chicago Fed report on how to deliver financial literacy programs US Department of Treasury Financial Literacy Challenge Comptroller of the Currency Financial Literacy Resource Directory
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Financial Education Too many people graduate from high school - even college - without the necessary education about money and how to use it wisely. Those without a formal education have less of a chance to learn about money and how it can work for or against them. We see this every day, from the huge amount of consumer debt on the books, to the coming apocalypse of baby boomers reaching retirement age without any savings, to the concept of spending beyond one's means by borrowing more than they can repay. Instead of utilizing available technology and services, uninformed consumers utilize inefficient methods to exchange paychecks for cash, send money to loved ones, pay bills, and obtain emergency funds. Our mission is to show them how they can better manage their finances, from basic everyday transactions to buying a car, a home, and investing for their future.
In
the future, we hope to form a publishing alliance with one of the top
money advice authors to bring a book to market that offers the kind of
guidance and advice that non-banked people can use to begin building a
strong financial foundation. Arriba is also developing a series of educational seminars that can be produced in cooperation with local nonprofits and community organizations. Management has introduced this idea to several organizations in Southern California and has received a very positive response with an open invitation to several major events. Additionally, online self-service educational programs will be produced to allow consumers to access basic financial education in a fun, interactive way. We realize that providing the tools is simply one part of the equation. Demonstrating the need for new ways of planning and conducting financial affairs is just as, or more important than the tools themselves.
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Using
resources from the FDIC, Freddie Mac, the Federal Reserve Board, and
others, Arriba is currently developing a booklet that provides common
sense advice on how to better use money and credit. This booklet will be
available in retail locations that use the Arriba Money Services
Platform and Arriba Finance Centers.