New FDIC Resource "crosswalks" Money Smart with WIOA
Organizational Author(s): Federal Deposit Insurance Corporation (FDIC)
First, FDIC developed a “crosswalk” document that aligns Money Smart training to the training requirements in the Workforce Innovation and Opportunity (WIOA) Act statute, and a second “crosswalk” aligns Money Smart to the WIOA implementing regulations. An instructor supplement to the Money Smart Bank Checklist was also developed to provide additional details to consider when comparing banks and accounts. These new resources are available on the newly launched Youth Employment Resource Center, which facilitates easy access to resources that can help support the delivery of financial education to youth employment program participants.
Second, FDIC has published a report summarizing the youth savings experiences of 21 diverse banks during the agency’s two-year pilot program. The report, entitled “Linking Youth Savings with Financial Education: Lessons from the FDIC Pilot,” defines a range of models that offer banks flexibility to adapt to varying opportunities to promote youth savings through financial education and school-based savings programs. The report and other supporting resources, including details on an FDIC knowledge-sharing network for banks involved with youth savings activities, is available at the agency’s new Youth Banking Resource Center.