Winnie Ballard to lead roundtable discussion on successes of financial literacy programs offered through Indy’s Campaign for Financial Fitness

INDIANAPOLIS – First Lady of Indianapolis Winnie Ballard on May 4, 2011, will host a listening session with Louisa Quittman, Director of Community Programs for the U.S. Department of the Treasury, and two members of the President’s Advisory Council on Financial Capability, Charles Schwab Foundation President Carrie Schwab-Pomerantz and Arty Arteaga, President and CEO of the Defense Credit Union Council. The participants will learn from the innovative programs Indianapolis has implemented through Indy’s Campaign for Financial Fitness (ICFF), a coalition of public and private organizations. Mrs. Ballard founded ICFF in 2008 to help Indianapolis residents and their families better manage their finances and take steps toward financial stability.

Through Mrs. Ballard’s financial literacy programs that help the city’s underserved population, Indianapolis has become a model for other cities as it strives to increase the financial health and well-being of its residents. Discussion about ICFF will include Bank On Indy, which aims to assist all unbanked Marion County residents in opening a checking/savings account; financial education programs; and Indy’s Free Tax Preparation Program. The session features a roundtable with representatives from government and non-governmental organizations, as well as financial services firms that participate in the programs.

WHAT: Listening Session Roundtable

WHO: First Lady of Indianapolis Winnie Ballard; President’s Advisory Council on Financial Capability members Carrie Schwab-Pomerantz, Charles Schwab Foundation President, and Arty Arteaga, President and CEO of the Defense Credit Union Council; Louisa Quittman, Director of Community Programs for the U.S. Department of the Treasury

WHEN: Wednesday, May 4, 2011 
1:15 p.m. to 2 p.m.: Media availability and open session

WHERE: Mayor’s Office Conference Room, City-County Building, 200 E. Washington St., 25^th FloorIndianapolis, IN

INDIANAPOLIS – With the April 18 tax filing deadline nearing, Marion County residents should take advantage of Indy’s Free Tax Preparation Program. Hundreds of volunteers are partnering with community members to provide free, convenient, on-site tax help at locations across the city. The service is available to qualifying individuals and families who earned $49,000 or less in 2010, senior citizens and disabled residents. 

Indy’s Free Tax Preparation Program, part of Indy’s Campaign for Financial Fitness, aims to help 7,000 residents and their families file their tax returns for free this year, allowing them to keep 100 percent of their tax refunds. The IRS VITA-trained and certified volunteers file returns electronically. For taxpayers with a bank account, that means seeing 100 percent of their refund direct deposited in about 10 days.

“Indy’s Free Tax Preparation Program provides local taxpayers the opportunity to keep more of their hard-earned money by allowing an IRS-trained and certified VITA volunteer help file their taxes,” said Indianapolis First Lady Winnie Ballard, who is a certified volunteer tax preparer. Mrs. Ballard founded Indy’s Campaign for Financial Fitness in 2008 with the goal for all Marion County residents to achieve financial literacy.  In addition to sites across the city, the Mobile Tax Team travels to apartment communities, workplaces and other convenient locations. The program already has helped thousands of Indianapolis residents this filing season.

 “The ‘dream team’ did our taxes,” said Nikki Moore, a manager at the Constitution Gardens apartment community. “It was a magnificent team that came in and did the returns for our senior citizens: They were polite, patient and expedient. Our experience couldn’t have been better.”

Celadon Trucking is one of many local employers that offered employees this service through a visit this tax season from the Mobile Tax Team. “The preparers were very quick and competent with me and answered all the questions I had in great detail,” said Celadon Trucking employee Brittany Ball. “I would definitely use this service again.”

Sites offering free tax preparation include John H. Boner Center, Shepherd Community Center, Finance Center Federal Credit Union, Martin University, Oasis of Hope, Southeast Community Center, ELSA Weed and Seed, Hawthorne Community Center and Mary Rigg Neighborhood Center. Indianapolis residents may call 2-1-1 for nearby tax preparation locations, hours, and appointment information and to find out how if they qualify. For additional information about Indy’s Free Tax Preparation program, visit www.freetaxprepindy.com. For more information on Indy’s Campaign for Financial Fitness, please visit www.indyscampaign.org.

The business technology class at North Central’s J. Everett Light Career Center teaches students like senior Terone Johnson not only how to responsibly manage money but how to take those skills into the workforce with them when they graduate from high school.

With actual full-service bank branches in three Indianapolis high schools — North Central, Warren Central and Arsenal Tech — Financial Center Federal Credit Union (FCFCU) is teaching financial literacy in a truly hands-on fashion. They are not only offering checking accounts, savings accounts and other financial services to faculty, staff and students, but they are using student tellers to do it.

Two of those three branches, North Central and Warran Central, are connected to a career center. The business technology class at North Central’s J. Everett Light Career Center teaches students like senior Terone Johnson not only how to responsibly manage money but how to take those skills into the workforce with them when they graduate from high school.

Johnson and others spend six weeks studying a basic financial literacy curriculum that focuses on how to build and wisely use credit and loans; and how to budget and save. The branches even feature ATMs that allow $1 minimum withdrawals. Students then go to work for two weeks as part-time tellers. With their own cash drawer, student tellers are empowered to complete member transactions and work on their service skills. 

For Johnson, this arrangement presented a perfect opportunity to both learn and work, and his two weeks has now stretched into two years. As a senior on North Central’s state championship basketball team, attending practice, working and keeping up with his studies outside of school presented a challenge. With the help of an early dismissal program, Johnson is able to take care of all three — and it looks to be paying off.

“I know a lot about the stuff that people throw at you such as credit card applications; I’m very educated on that now,” Johnson said. “From savings accounts to credit cards, this program has definitely given me an education on managing my money” — and his time. 

“Since he plays basketball, an after-hours job isn’t feasible,” said Haylee Teeple, who serves as both Financial Literacy Manager and Branch Manager at FCFCU’s J. Everett Light Career Center branch. “This is Terone’s second year in the business technology program. His team won state this year, he’s headed to Purdue on a full scholarship next year and has participated in the student teller program. With all of these accomplishments, he has done an excellent job representing the credit union.”

Finance Center is one of the city’s 16 financial institution partners for Bank On Indy, a public-private partnership the City of Indianapolis has developed with local banks and credit unions to connect the 80,000 “unbanked” in Marion County with traditional banking services.

Spearheaded by Indianapolis First Lady Winnie Ballard, Bank On Indy is part of a wider campaign called Indy’s Campaign for Financial Fitness (ICFF), which provides education and financial literacy programs to low- and middle-income Indianapolis residents. ICFF is the umbrella for three efforts: Bank On Indy, free tax preparation services and financial education classes. 

“Becoming financially literate is so important,” said Mrs. Ballard. “The earlier in life we can help teach these important habits, the more successful and financially independent students will become as they enter the work world.”

http://www.usatoday.com/news/nation/2009-11-04-bank-on-side_N.htm

Rally at Riverside Park offers residents first chance to open low-cost and no-cost accounts through Bank On Indy

INDIANAPOLIS – Indianapolis Mayor Greg Ballard and First Lady Winnie Ballard joined community leaders and financial institution partners today at Riverside Park to launch Bank On Indy, a citywide campaign aimed at getting nearly 80,000 unbanked Marion County residents to start using traditional banking services.

“Introducing financial fitness, and connecting people with the tools they need to manage money wisely and live within their means is one of the most significant steps we can take to improve the quality of life for all citizens,” said Mayor Ballard.

The initiative is a new public-private partnership designed to offer low-cost and no-cost checking and savings accounts, financial education and other banking and credit union products designed to bring the county’s unbanked population into the financial mainstream. Bank On Indy will encourage people to write checks instead of buying money orders, avoid check-cashing fees, build savings, establish or rebuild credit, protect their money from theft and natural disasters, and monitor their spending.

“Many people have little or no introduction to banking, and others have had difficulty staying in the financial mainstream for a number of reasons. Second chances seem hard to come by in the financial world, but when other cities have tried programs similar to Bank On Indy, the response demonstrates that second chances are well worth the investment. People get banked and stay banked, because they understand that checking and saving give you financial stability,” said Indianapolis First Lady Winnie Ballard.

Currently, 16 financial institutions have signed on to participate in the Bank On Indy campaign. Community partners United Way of Central Indiana and the Central Indiana Community Foundation will assist in the effort by connecting individuals with financial education and financial coaching resources throughout Indianapolis.

Participating institutions include:

• Chase Bank

• Clarian Federal Credit Union

• Eli Lilly Federal Credit Union

• Fifth Third Bank

• Finance Center Federal Credit Union

• Flagstar Bank

• Harris Bank

• Huntington National Bank

• KEMBA Financial Credit Union

• Key Bank

• M & I Bank

• National City Bank

• Old National Bank

• Salin Bank and Trust Company

• Star Financial Bank

• Warren MSD Federal Credit Union

Bank on Indy will formally launch on Friday, Oct. 9, 2009, from 10 a.m. – noon with a rally at Riverside Park (2420 E. Riverside Drive, Indianapolis). At the rally, people can open a checking or savings account with any of the participating financial institutions.

After the rally, all Marion County branches of participating financial institutions will open new accounts for people interested in the Bank on Indy program.

For more information about Bank on Indy or for branches near you, call 2-1-1 or visit www.bankonindy.org. The Mayor’s Action Center will field all phone calls made to 2-1-1.