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ICBA Signs Agreement with FDIC for Money Smart for Small Businesses Program

Washington, D.C. (December 19, 2012)–The Independent Community Bankers of America  announced today that the association has signed an agreement with the Federal Deposit Insurance Corp. to promote its Money Smart for Small Business financial education program, which helps teach entrepreneurs the basics of organizing and managing a business. As part of the agreement, ICBA will continue to make its members aware of this free program—furthering ICBA’s commitment to financial literacy among community bank customers.

“The Money Smart for Small Business financial program is yet another tool that community bankers can offer their small business customers to help them successfully manage their business,” said Terry Jorde, ICBA senior executive vice president and chief of staff. “Community banks continue to be prolific small business lenders, with banks under $10 billion making about 60 percent of all small business loans under $100,000, so having additional resources for our customers is a win-win. We thank the FDIC for considering the needs of small business owners and creating this program specifically for them.”

FDIC’s Money Smart for Small Business program is a complimentary educational program designed to help educate new or existing small business owners. Money Smart has 10 training modules, including tax planning and reporting, banking services available for small businesses and financial management, and it is available in Spanish.

ICBA has been using Money Smart and involved with FDIC’s program since November 2002.

For additional information on the Money Smart curriculum, visit www.fdic.gov/moneysmart.