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ICBA Supports Declaration of Financial Literacy Month

ICBA Community Banking Month Creates Opportunities to Promote Financial Education

Washington, D.C. (April 23, 2010)—The Independent Community Bankers of America (ICBA) strongly supports the designation of April as “Financial Literacy Month,” which calls on government, nonprofit organizations and the private sector to raise public awareness about the importance of financial education in the United States and the serious consequences that can result from a lack of understanding about personal finances. The House of Representatives adopted a resolution earlier this week to focus attention on financial literacy during April.

“The financial crisis of the past two years has made everyone more aware of how important it is to be well-informed and well-educated about managing our money,” said Jim MacPhee, ICBA chairman and CEO of Kalamazoo County State Bank in Schoolcraft, Mich. “Whether it’s saving for college or planning for retirement, choosing a bank or applying for a credit, the more you know about what’s being offered, the more likely you are to make choices that’s are right for you.”

ICBA has an ongoing commitment to promoting financial literacy, encouraging its nearly 5,000 member community banks to provide programs within their communities, as well as forging government, nonprofit and private-sector partnerships, such as with the Jump$tart Coalition and the FDIC Money Smart program. ICBA also recognizes community banks with outstanding financial literacy programs through a financial literacy award as part of the annual National Community Bank Service Awards.

“We put a premium on knowledge,” MacPhee said. “Community banks are committed to giving their customers the information they need to make good decisions. You’re never too young to learn how to manage money. April is also ICBA Community Banking Month. A time when many community banks offer special programs to help their customers plan for a stable and successful financial future.”

To find a community bank, visit ICBA’s community bank locator by clicking here.