In 2005, recognizing the importance of the financial stability of ex-offenders and their families, the U.S. Probation Office for the Eastern District of Missouri became an Alliance Partner with the Federal Deposit Insurance Corporation (FDIC) in the presentation of the Money Smart Program to the ex-offender population and their families.
The Money Smart Program is a training program to help adults outside the financial mainstream enhance their money skills and create positive banking relationships and stop predatory lending.
The purpose of the Financial Education Program is to ensure that low-income offenders and their families receive the financial education and services necessary to end the cycle of poverty.
Financial education fosters financial stability for individuals and for entire communities. The more people know about credit and banking services, the more likely they are to increase savings, buy homes, and improve their financial health and well being. The Money Smart curriculum helps individuals build financial knowledge, develop financial confidence, and use legitimate banking services effectively.
“Financial education is not only the key to helping people enter the financial mainstream and achieve their economic dreams, it also is one answer to the poverty and despair that lead some individuals to turn to crime,” said Lee Bowman, the FDIC’s Chief of Community Affairs. “The FDIC takes great pride in knowing that our Money Smart financial education program is helping to motivate at-risk individuals to improve the quality of life for themselves, their families and their communities.”
The program will be two, two-hour classroom sessions that will cover the following:
- An introduction to banking services
- An introduction to credit and credit reports
- How to choose and keep a checking account
- Why saving is so important
- How to make a credit card work for you
- What home ownership is all about
- and, referrals to legitimate banking institutions
If you are interested in attending this class, please contact Senior U.S. Probation Officer Jason Kang at 314-539-3171, or your supervising officer.