Dover, DE – For the seventh consecutive year, grant funds for Delaware schools and nonprofits to promote financial literacy across the state are now available through the state’s Financial Literacy Education Fund (FLEF).

“Delaware continues to lead the way in making financial education available to Delawareans from all walks of life,” said Governor John Carney. “Through a variety of programs that teach how to establish and maintain a household budget, educate youth on the importance of having good credit, and help families buy their first homes, Delaware’s schools and non-profit organizations have the tools to promote healthy financial decision making.”

Since the FLEF was established in 2010, approximately $2 million has been awarded to more than two dozen organizations to improve financial literacy for Delawareans of all ages. Students in Delaware schools have learned the importance of saving money, families living in rental housing have been coached along the path to homeownership, and pregnant and parenting young women have learned how to develop financial plans to strengthen their futures.

This year, a total of $270,000 will be made available to support programs that meet criteria established by the Office of the State Bank Commissioner and the Department of Education. Funding for the FLEF 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, especially programs that are proactive, preventive, and forward-thinking. Applications for programs and services designed to reach populations or geographic regions 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 Delaware organizations with 501(c)(3) federal tax-exempt status are eligible to apply. The FLEF has one competitive grant cycle each year, overseen by an award committee.

Grant applications are due by Friday, September 15, 2017 and must be completed using the form available at banking.delaware.gov. Forms should be emailed to Dawn Hollinger at the Office of the State Bank Commissioner (dawn.hollinger@delaware.gov) along with any attachments. Receipt of grant applications will be confirmed within three 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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Contact: Doug Denison
Department of State
doug.denison@delaware.gov
302-857-3038

Wilmington, DE – In his weekly message, Governor Markell highlights the work of Stand By Me, a financial empowerment program that recently celebrated its fifth anniversary.

“Delaware’s economy continues to get stronger, with a low unemployment rate and record job creation that leads the region. However, at a time of rapid economic changes, many people continue to struggle with financial insecurity. ,” Governor Markell said. “Stand By Me is a great example of how the private and public sectors can work together at a time when government has fewer resources to deploy. By empowering people financially, we ensure they can focus on working hard to get ahead and care for their families. And that keeps Delaware moving forward.”

Every week, the Governor’s office releases a new Weekly Message in video, audio, and transcript form. The message is available on:

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Delaware.Gov:http://governor.delaware.gov/podcast_video.shtml
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Transcript of the Governor’s Weekly Message: Empowering Delawareans to be Financially Literate and Grow Our Economy

WILMINGTON, Del. — Congressman John Carney gave remarks today at the launch of an initiative between the federal Consumer Financial Protection Bureau, the Delaware Division of Libraries, and the Delaware Financial Literacy Institute that will improve financial literacy in Delaware. The initiative, which is being offered through the state’s public libraries, will provide Delawareans with the tools they need to make smart financial decisions on topics ranging from mortgages and credit reports to student loans and credit card debt.

Today’s announcement was followed by a training session in the Wilmington Public Library’s Inspiration Space. Librarians from throughout the state joined the presentation led by representatives from the CFPB and The Money School, either in person or via video conference.

“The ability to understand and make good financial decisions for yourself and for your family is a skill that every Delawarean should learn. In a lot of cases, it can be the difference between just getting by, and getting ahead,” said Congressman Carney. “I thank the CFPB for bringing their expertise and resources to Delaware, and Delaware libraries for helping to fill this need in our communities. Between this initiative, and the partnership already underway with The Money School, Delawareans have more help than ever before to effectively manage their money.”

“Congressman Carney and the CFPB share the goal of empowering consumers to help them make responsible financial decisions,” said Gail Hillebrand, Associate Director for Consumer Education and Engagement. “This initiative with Delaware’s Division of Libraries and local libraries will help the state’s already-trusted libraries to be community centers for financial education.”

“Delaware libraries are pleased to be collaborating with the Consumer Financial Protection Bureau to help bring additional financial literacy tools to Delawareans,” said Dr. Annie Norman, State Librarian. “Libraries are conveniently located in communities throughout the state, and are devoted to supporting individuals and communities achieve their full potential. The new set of financial empowerment tools provided by the CFPB will support libraries’ efforts to help all Delawareans achieve their versions of the Delaware Dream.”

Ronni Cohen, Executive Director of DFLI, home of The Money School added, “Delaware public libraries and the Money School have worked together for many years to ensure that every Delawarean has the information and support they need to make smart financial decisions today and into the future. We are very pleased to welcome the CFPB to this partnership, and encourage anyone looking for help to seek out their local library and the resources available.”

Over the last several months, Congressman Carney has worked closely with the CFPB, the Delaware Financial Literacy Institute, and the Delaware Division of Libraries to bring this initiative to Delaware. As a member of the House Financial Services Committee, Congressman Carney has strongly supported the Consumer Financial Protection Bureau in its mission of ensuring that consumer finance markets are fair and consistent, and that consumers have the knowledge and ability to make smarter financial decisions.

Carl Shaw, Wilmington Library Inspiration Space Coordinator; Diana Brown, New Castle County Librarian; Annie Norman, State Librarian; Gail Hillebrand, Associate Director for Consumer Education and Engagement​, Consumer Financial Protection Bureau; Ronni Cohen, Executive Director, Delaware Financial Literacy Institute/The Money School; Ken McDonnell, Consumer Financial Protection Bureau

Congressman Carney (right) talks with Gail Hillebrand, Associate Director for Consumer Education and Engagement at the Consumer Financial Protection Bureau and Rod Scott, president of the Board of Managers for the Wilmington Institute Library before today’s announcement.

Congressman John Carney speaks with librarians from throughout the state at today’s launch a new financial literacy initiative between Delaware libraries and the Consumer Financial Protection Bureau.

CONTACTS:

Albert Shields: (302) 691-7333 office/(302) 561-5043 cell
Albert.Shields@mail.house.gov

Beth-Ann Ryan, Deputy Director, Delaware Division of Libraries
beth-ann.ryan@delaware.gov
delawarelibraries.org • libraries.delaware.gov

Governor Jack Markell has announced the availability of a fifth 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 was established to help Delawareans reach their financial potential through education on how to wisely budget, save, invest, and generally plan for the future,” said Governor Jack Markell. “In the first four years of the program, and through a variety of organizations and teaching methods, hundreds of Delawareans have been given powerful tools to be able to take control of their finances.”

In 2014, 19 organizations throughout Delaware received support through the FLEF. During his administration, Governor Markell has also launched Stand by Me, a partnership with United Way of Delaware that gives Delawareans 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 $215,000 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, 2015, 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@delaware.gov) 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.

Dover — At an event in Dover today, Governor Markell announced 19 Delaware nonprofit organizations will receive a total of $355,000 in grant money from the state’s Financial Literacy Education Fund (FLEF). Through the FLEF grant program, these nonprofit organizations will improve the financial skills of Delawareans through education on how to budget, save, invest and plan for the future. A total of 24 organizations throughout Delaware applied for funding from the state’s Financial Literacy Education Fund. To make this announcement, Governor Markell was joined today by State Bank Commissioner Robert Glen.

The Financial Literacy Education Fund was established in 2009 when Governor Markell signed Senate Bill 108 requiring businesses that make short-term consumer loans (such as title loans and payday loans) to pay an annual high-cost loan license fee of $1,500 for each licensed office. These monies are deposited into the FLEF, which the law states must be used to fund grants to or contracts with schools or other organizations that provide financial and economic literacy skills to adults and youth in Delaware.

In 2011, the first grant year saw 13 organizations receive over $550,000 in grant awards. In 2012, the second grant year saw 22 organizations receive over $452,000 in grant awards.

“These organizations have done our state a great service by helping hundreds of Delawareans gain the tools to make sound financial judgments,” said Governor Markell. “Our greatest asset is our people and we all benefit from a stronger economy when more people in our state make smart decisions for their future and their families.”

The FLEF is administered by the Office of the State Bank Commissioner and the Secretary of State’s Office. Applications for the competitive grants were rated on how they would improve the financial literacy of Delawareans. Programs reaching populations or geographic regions within Delaware that have limited access to financial literacy programs, particularly reaching out to members of the military, seniors and minority communities, were encouraged. The Fund has one competitive grant cycle each calendar year.

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 were eligible to apply.

Grants were awarded in three categories: K-12 Financial Literacy Programs; Adult Financial Literacy Programs; and Targeted Campaigns focused on providing education to those facing decision on debt, with specific emphasis on reaching out to the military, seniors, and minority communities.

Contact:
Robert A. Glen
State Bank Commissioner
302-739-4235