Quad-Cities hosts its first Money Smart Week to help with personal fiscal management

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By Jennifer DeWitt | Tuesday, March 25, 2008 |

Just in time for spring, Quad-Citians can get some help putting their financial houses in order as the bi-state area hosts its first-ever Money Smart Week, April 5-12.

The public campaign is designed to educate consumers about money management and generate awareness of the financial education opportunities available in the community. In the Quad-Cities, classes, seminars and activities will be available during the week to educate a wide audience from school-age children to senior citizens.

The Quad-City effort is part of Money Smart Week Iowa, a statewide campaign that will include events in Des Moines and the Cedar Rapids/Iowa City corridor. The campaign is organized by the Federal Reserve Bank of Chicago. More than 40 Quad-City partners are involved, including several financial institutions, non-profit organizations, area libraries and the media.

Many of the events are part of the regular programs offered by the area partners, but organizers have coordinated the timing to consolidate them into a single week.

“There are so many events out there that instead of reinventing a curriculum or doing their own thing, the Federal Reserve decided to shine a light on things already happening,” said Joanne Kuster, the 2008 chair of Money Smart Iowa. “You have so much energy in the Quad-Cities and that was what was needed to get this started there.”

Kuster, who also is a financial educator and author, said the Federal Reserve first brought the Money Smart program to Iowa last year.

The education program began in 2002 with 40 events in Chicago. Of the 12 Federal Reserves, only the Chicago district offers Money Smart, she said.

Iowa is one of the first states to take it statewide. Money Smart Weeks now are held at various times throughout the year in Illinois, Michigan, Indiana and Wisconsin.

The expansion in Iowa doubled the number of events and brought about 100 partners into the fold, Kuster added. “Some of the events existed, such as tax help for seniors. But Great River Bank has one on college planning — brand new …”

While involvement by financial institutions would be expected, Kuster said the Quad-City effort also is gaining steam with participation by non-profits such as CASI and Girl Scouts as well as libraries. Almost all activities are free and open to the public.

The Quad-City coordinator, Janet Holton of Great River Bank & Trust, said the first-time effort has drawn support from a cross-section of partners. “We are looking forward to a successful week and encourage everyone to participate in the many educational opportunities we have going on that week.”

To reach out to younger children, Kuster said the Iowa Bankers Association and Iowa Credit Union League partnered on a Money Smart Essay program for sixth- through eighth-graders. The Quad-Cities Money Smart Kid will be announced at an organizer kickoff breakfast event April 3. The contest will award $1,000 scholarships to one winner in the Quad-Cities as well as in Cedar Rapids and Des Moines.

Money Smart partners

Quad-City partners in Money Smart Week include American Bank & Trust; Ascentra Credit Union; Bank of the West; Bettendorf Chamber of Commerce; Bettendorf Public Library; Business & Education Partnership; Center for Active Seniors (CASI); city of Davenport;

Davenport Public Library; Dispatch/Argus/Leader; Document Destruction; DynaMinds Publishing; Eastern Iowa Community College District; East Moline Public Library; Family Credit Union; Federal Reserve Bank of Chicago; First Central Bank; Girl Scouts of Eastern Iowa/Western Illinois; Great River Bank & Trust; Great River Financial Services; Iowa Attorney General; Iowa Bankers Association; Iowa Credit Union League; Iowa Insurance Division; Iowa Treasurer’s Office; Iowa State University Extension; IH Mississippi Valley Credit Union; Junior Achievement; Moline Public Library; National Association of Investors Corp., Iowa-Illinois Chapter; QC Dollarwi$e; Quad-City Bank & Trust; Quad-City Times; SCORE; The National Bank; United Way of Quad-Cities Area; University of Illinois Extension; Valley Bank; Wells Fargo and WQPT.

Jennifer DeWitt can be contacted at (563) 383-2318 or jdewitt@qctimes.com.