From the Financial Industry Regulatory Authority (FINRA)’s news release, the “FINRA Investor Education Foundation and the American Library Association Announce $1.5 Million in Grants to Public Libraries to Support Grassroots Financial Literacy.” There are 19 libraries receiving the $1,522,122 through the program ‘Smart investing@your library’. Providing the public with financial education information is the program’s goal. This is the third year for ‘smart investing@your library’, whose goal is to help library patrons with small and large financial decisions free of bias.
The library programs implemented with grant money are meant to help all ages of people, from youth just learning about money to senior citizens looking to compare annuities for retirement. They also target low-income citizens and immigrants that are new to America with education programs. The education programs include online learning, teaching in classrooms, individual clinics, and other online educational activities. Libraries receiving these grants also partner up with other organizations to extend community education even further. This includes schools, colleges, local government, and veterans clubs.
Grants are not only given in urban communities but also suburban and rural areas as well. People often turn to free services like libraries when they are struggling economically. With grants from FINRA and the ALA, libraries can better serve and educate these citizens about their finances and help to either get or keep them on track. Whether they need information on annuities, credit cards, saving for college, or just budgeting; ‘smart investing@your library’ is there to help and educate.
