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Governor Markell Announces Grant Program to Promote Financial Literacy

Date Posted: Friday, March 11th, 2016
Categories:  Department of State Former Governor Jack Markell (2009-2017) Kent County New Castle County News Office of the Governor State Bank Commissioner Sussex County

Governor Jack Markell has announced the availability of a sixth round of grants to promote financial and economic literacy among Delawareans of all ages through the state’s Financial Literacy Education Fund (FLEF).

“The Financial Literacy Education Fund helps ensure Delawareans have access to support with budgeting for today, saving for tomorrow, and investing for the future,” said Governor Jack Markell. “In the first five years of the program, and through a diverse group of organizations, thousands of Delaware adults and children have been empowered with the knowledge to make strong financial decisions.”

In 2015, 17 organizations throughout Delaware received support through the FLEF. During his administration, Governor Markell has also launched the financial empowerment initiative Stand by Me, a partnership with United Way of Delaware that gives Delawareans free access to a Personal Financial Coach and a toolkit to navigate the challenges leading to personal financial security.

Non-profit organizations and K-12 schools throughout Delaware are eligible to apply for a total of $204,000 to support programs that meet criteria established by the Office of the State Bank Commissioner and the Department of Education. Funding for the program is derived from a license fee charged to businesses that make high-cost payday loans and car title loans.

Proposals for competitive grants will be considered on the basis of how they improve the financial literacy of Delawareans. The State is particularly interested in funding proactive, preventive, and forward-thinking proposals. Applications for programs and services designed to reach populations or geographic regions within the State that have had limited access to financial literacy programs are encouraged, with special emphasis on reaching out to members of the military, seniors and minority communities.

All schools recognized by the Delaware Department of Education and nonprofit organizations within the State of Delaware that have a 501(c)(3) designation by the Internal Revenue Service are eligible to apply. The Fund has one competitive Program Grant cycle each year. A grants committee will oversee all grant-making.

Grant applications are due by April 15, 2016, and must be completed using the form available at banking.delaware.gov. Forms should be sent to Dawn Hollinger at the Office of the State Bank Commissioner (dawn.hollinger@state.de.us) along with any attachments. Receipt of grant applications will be confirmed within 3 business days. If applicants do not receive confirmation, they should contact Dawn Hollinger at 302-739-4235 and resubmit their applications.

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