Department of Financial Institutions Participates in Financial Literacy “Train-the-Trainer” Workshops

May 13, 2002

SACRAMENTO – The California Department of Financial Institutions (DFI) is partnering with the Federal Reserve Bank of San Francisco and other government and community organizations to sponsor train-the-trainer workshops, “Building Native American Communities – Financial Skills for Families.”

“Governor Gray Davis proclaimed April 2002 Financial Literacy Month in California to help us encourage Californians to increase their understanding of saving, investing, and credit choices, said Donald R. Meyer, Commissioner of Financial Institutions. “DFI is partnering with organizations that have an interest in promoting financial literacy,”; added Meyer. Financial education paves the way for informed decision making, whether conducting routine daily financial transactions in a cost-effective manner, securing affordable financing for a new or used car, or realizing the American dream of homeownership.

The workshop curriculum has been designed for trainers at any level, and the materials provided may be used to enhance existing curriculum, or used as a stand-alone program. Recognizing the wisdom and success of traditional resource management, the curriculum draws from historic examples of saving, budgeting, and adapting new tools to benefit Native American communities. Topics include developing and using a spending plan, managing money with checking and savings accounts, understanding credit and credit reports, and applying for loans.

The financial literacy training will benefit community based organization staff, lenders, local government agencies, tribal housing authority, Native American school instructors, credit counselors, affordable housing and small business development counselors and others interested in serving the Native American communities.

The workshops will be conducted in Eureka-Arcata on Thursday, May 16, 2002 at the North Coast Inn, 4975 Valley West Blvd. Arcata, CA; and in Palm Springs on Thursday, May 23, 2002 at the Spa Resort & Casino, 100 North Indian Canyon Drive, Palm Springs, CA. For additional information or to register, call Lena Robinson (415) 974-2717 regarding the Eureka-Arcata Workshop or Adria Graham Scott (213) 683-2785 for the Palm Springs Workshop.

Other sponsors include The Fannie Mae Foundation, First Nations Development Institute, Enterprise Foundation, Northern California Indian Development Council, California Nevada Indian Housing Association, and the Northern Circle Indian Housing Authority.

The Department of Financial Institutions is responsible for administering State laws regulating state licensed banks, state licensed savings and loans, trust companies, state licensed offices of foreign banks, issuers of travelers checks and payment instruments (money orders), transmitters of money abroad, state licensed credit unions, and state licensed industrial banks. The Department reports to Maria Contreras-Sweet, Secretary of the Business, Transportation and Housing Agency and Governor Gray Davis.