# FDIC FIL-80-2010: Financial Institutions Encouraged to Work With Schools to Promote Youth Financial Education > Federal · Agency guidance · In force URL: https://www.frixlaw.com/law-library/statutes/FDIC_FIL10080 ## Section - **Citation:** FDIC FIL-80-2010 - **Heading:** Financial Institutions Encouraged to Work With Schools to Promote Youth Financial Education - **Jurisdiction:** Federal - **Kind:** Agency guidance - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** FDIC Financial Institution Letters / Financial Institutions Encouraged to Work With Schools to Promote Youth Financial Education ## Text Financial Institution Letter FIL-80-2010 November 17, 2010 FINANCIAL INSTITUTIONS ENCOURAGED TO WORK WITH SCHOOLS TO PROMOTE YOUTH FINANCIAL EDUCATION Summary: On November 15, 2010, FDIC Chairman Sheila C. Bair signed a partnership agreement with U.S. Department of Education Secretary Arne Duncan and National Credit Union Administration (NCUA) Chairman Debbie Matz to promote and enhance financial education and access for low- to moderate- income students and families. For additional information on partnerships to promote youth financial education, institutions can contact the FDIC Outreach and Program Development Section at communityaffairs@fdic.gov. Distribution: FDIC-Supervised Banks (Commercial and Savings) Suggested Routing: Chief Executive Officer Chief CRA Officer Attachments: None Contacts: Luke W. Reynolds, Chief, Outreach & Program Development, Division of Supervision and Consumer Protection, at LuReynolds@FDIC.gov or (202) 898 6724 Note: FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2010/index.html. To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html. Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562- 2200). Highlights:  FDIC Chairman Sheila C. Bair, Department of Education Secretary Arne Duncan, and NCUA Chairman Debbie Matz signed a partnership agreement on November 15, 2010, to foster collaboration between the agencies to promote youth financial education and financial access.  FDIC’s free Money Smart for Young Adults curriculum is one tool financial institutions and schools can use to promote youth financial education. See www.fdic.gov/moneysmart on Secretary Arne Duncan, and NCUA Chairman Debbie Matz signed a partnership agreement on November 15, 2010, to foster collaboration between the agencies to promote youth financial education and financial access.  FDIC’s free Money Smart for Young Adults curriculum is one tool financial institutions and schools can use to promote youth financial education. See www.fdic.gov/moneysmart.  In addition to supporting the delivery of financial education instruction, financial institutions should consider promoting school-based savings programs. Federal Deposit Insurance Corporation 550 17th Street NW, Washington, D.C. 20429-9990 Financial Institution Letter FIL-80-2010 November 17, 2010 FDIC CHAIRMAN JOINS WITH EDUCATION SECRETARY TO ENCOURAGE FINANCIAL INSTITUTIONS TO WORK WITH SCHOOLS TO PROMOTE YOUTH FINANCIAL EDUCATION Federal Deposit Insurance Corporation (FDIC) Chairman Sheila C. Bair joined U.S. Department of Education Secretary Arne Duncan and National Credit Union Administration (NCUA) Chairman Debbie Matz at a press conference on November 15, 2010, to sign a partnership agreement between the agencies designed to promote and enhance financial education and access for low- to moderate-income students and families. The partnership, in part, is designed to lead to more collaboration between financial institutions and schools to deliver financial education to students and to provide safe, affordable banking products responsive to the needs of students and their families ent between the agencies designed to promote and enhance financial education and access for low- to moderate-income students and families. The partnership, in part, is designed to lead to more collaboration between financial institutions and schools to deliver financial education to students and to provide safe, affordable banking products responsive to the needs of students and their families. Financial institution staff can support the delivery of financial education in ways such as:  Teaching financial education as a guest instructor in the classroom;  Serving as a subject matter resource for educators on personal finance and banking- related topics, or hosting a field trip to a branch so that students can see how a bank operates;  Supporting the delivery of financial education through after-school programs or in collaboration with other organizations; and  Facilitating or providing support for in-school student savings programs. These can range from the collection of savings deposits to school-based bank branches.1 Bankers and educators may find the FDIC’s free Money Smart for Young Adults curriculum a valuable resource. The curriculum provides unbiased, objective information that is aligned with state educational standards. It is based on the award-winning Money Smart adult financial education curriculum, which was designed to help low- and moderate-income individuals enhance their financial skills and create positive banking relationships. Money Smart has been shown to bring sustainable improvements in participants’ knowledge and financial behaviors. Visit http://www.fdic.gov/consumers/consumer/moneysmart/young.html to order a free copy or read success stories and strategies on youth financial education delivery. Financial institutions can also consider partnering with schools to encourage participation in and support financial education efforts in conjunction with the National Financial Capability Challenge. The Challenge is a voluntary program coordinated by the U.S s/consumer/moneysmart/young.html to order a free copy or read success stories and strategies on youth financial education delivery. Financial institutions can also consider partnering with schools to encourage participation in and support financial education efforts in conjunction with the National Financial Capability Challenge. The Challenge is a voluntary program coordinated by the U.S. Department of the Treasury with support from the U.S. Department of Education to increase the financial knowledge and capability of high school-aged youth. See http://challenge.treas.gov/. 1 FDIC regulations permit state nonmember banks to provide certain banking programs in schools without submitting a branch application to the FDIC, provided certain conditions are satisfied. See §303.46 of FDIC Regulations. Financial education enables young people to start positive habits, such as saving money and budgeting, and learn how to use mainstream banking services effectively. The need for youth financial education is well-documented—FDIC research indicates that younger adults are more likely to be unbanked and incur sizable fees in automated overdraft programs. For additional information on partnerships to promote youth financial education, please contact the FDIC Outreach and Program Development Section at communityaffairs@fdic.gov. Sandra L. Thompson Director Division of Supervision and Consumer Protection ## Nearby sections - [FDIC FIL-1-2002 FOREIGN ASSETS CONTROL ACT](https://www.frixlaw.com/law-library/statutes/FDIC_FIL02001.md) - [FDIC FIL-1-2010 Employee Compensation Advance Notice of Proposed Rulemaking](https://www.frixlaw.com/law-library/statutes/FDIC_FIL10001.md) - [FDIC FIL-1-2024 Consolidated Reports of Condition and Income for Fourth Quarter 2023](https://www.frixlaw.com/law-library/statutes/FDIC_FIL24001.md) - [FDIC FIL-2-2004 Foreign Assets Control Act](https://www.frixlaw.com/law-library/statutes/FDIC_FIL04002.md) - [FDIC FIL-2-2020 Consolidated Reports of Condition and Income for Fourth Quarter 2019](https://www.frixlaw.com/law-library/statutes/FDIC_FIL20002.md) - [FDIC FIL-3-2003 FILING PROCEDURES](https://www.frixlaw.com/law-library/statutes/FDIC_FIL03003.md) - [FDIC FIL-4-2006 Commercial Real Estate Lending Proposed Interagency Guidance](https://www.frixlaw.com/law-library/statutes/FDIC_FIL06004.md) - [FDIC FIL-4-2021 Revised Guidelines for Appeals of Material Supervisory Determinations](https://www.frixlaw.com/law-library/statutes/FDIC_FIL21004.md) - [FDIC FIL-4-2023 Guidance to Help Financial Institutions and Facilitate Recovery in Areas of California Affected by Severe Winter Storms, Flooding, Landslides and Mudslides](https://www.frixlaw.com/law-library/statutes/FDIC_FIL23004.md) - [FDIC FIL-4-2025 FDIC Statement of Policy on Bank Merger Transactions](https://www.frixlaw.com/law-library/statutes/FDIC_FIL25004.md) - [FDIC FIL-5-2000 Consumer Credit Reporting Practices](https://www.frixlaw.com/law-library/statutes/FDIC_FIL00005.md) - [FDIC FIL-5-2003 LETTER TO STAKEHOLDERS](https://www.frixlaw.com/law-library/statutes/FDIC_FIL03005.md) - [FDIC FIL-5-2021 Frequently Asked Questions Regarding Suspicious Activity Reporting and Other Anti-Money Laundering (AML) Considerations](https://www.frixlaw.com/law-library/statutes/FDIC_FIL21005.md) - [FDIC FIL-6-2000 Special Alert](https://www.frixlaw.com/law-library/statutes/FDIC_FIL00006.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/FDIC_FIL10080. Check the current official text before relying on it. Not legal advice.