Initiatives

This one-year project highlighted opportunities for financial institutions to offer safe, low-cost transactional and savings accounts that are responsive to the needs of underserved consumers. Nine financial institutions participated in the effort. Complete product features and detailed findings from the project are available.

Through a two-year pilot with 28 participating banks, the FDIC illustrated how banks can offer affordable small-dollar loans as an alternative to high-cost credit products, such as payday loans and fee-based overdraft protection. The resulting template is a safe, affordable, and feasible small-dollar loan product. The product template and detailed findings from the project are available to the public.

The Advisory Committee on Economic Inclusion (ComE-IN) is an ongoing advisory body chartered in November 2006. Drawn from leaders in the financial services industry, academia, the nonprofit sector, and others, the Committee provides the FDIC with advice and recommendations on expanding access to banking services for underserved populations. The meetings of the Committee are open to the public and broadcast live on the FDIC website.

The Alliance for Economic Inclusion (AEI) is the FDIC's national initiative to establish broad-based coalitions of financial institutions, community-based organizations, and other partners in several markets across the country to bring all unbanked and underserved populations into the financial mainstream.

AEI consists of 16 parallel campaigns (each its own Alliance) operating in eight different regions of the country. More information on specific Alliances can be found by visiting the links below:

• Alabama AEI
• Arkansas AEI
• Baltimore AEI
• Boston AEI
• Chicago AEI
• Detroit AEI
• Kansas City AEI
• Los Angeles AEI
• Milwaukee AEI

• Mississippi Gulf Coast/Delta AEI
• New Orleans AEI
• Northeastern Oklahoma AEI
• Rochester AEI
• South Texas (Houston and Austin) AEI
• West Virginia Small and Micro Business AEI
• Wilmington AEI
• Worcester AEI

On May 29, 2009, the FDIC Board of Directors established the FDIC Advisory Committee on Community Banking to provide the FDIC with advice and guidance on a broad range of important policy issues impacting small community banks throughout the country, as well as the local communities they serve, with a focus on rural areas. The meetings of the Committee are open to the public and broadcast live on the FDIC website.

The FDIC’s flagship Money Smart program is a comprehensive financial education curriculum designed to help low- and moderate-income individuals outside the financial mainstream enhance their financial skills and create positive banking relationships. Money Smart has reached over 2.75 million consumers since 2001. The FDIC provides resources for those who teach the curriculum, as well as those seeking information on how to become more financially literate. The materials are available on a multi-lingual CD in nine languages, including English, Spanish, Traditional-Chinese, Haitian-Creole, Hindi, Hmong, Korean, Russian, and Vietnamese.

Released in April 2012, the Money Smart Computer-Based Instruction (CBI) is an easy-to-use tool to learn more about basic personal financial management. The CBI features a game-based learning design and separate learning tracks for adults and young adults. Access to CBI is free (registration is required) and is available in both English and Spanish.

The Money Smart Podcast Network is the portable audio (MP3) version of Money Smart and is designed to provide financial education for persons “on the go.” The podcasts are available to download for free; podcasts are available in both English and Spanish.

Developed jointly by the FDIC and the Small Business Administration (SBA) and released in July 2012, Money Smart for Small Business is an introductory curriculum for new and aspiring entrepreneurs. This curriculum provides practical guidance on the basics of organizing and managing a business. Money Smart for Small Business is offered through the Training Alliance network.