Chicago

2011 Reportm o n e y s m artwe e k . o rgChicago

Cover: Ben Franklins promote Money Smart Week on LaSalle Street.Chicago Bear Israel Idonije welcomes guests to the MSW Kickoff.“Money Smart Week” is a registered servicemark of the Federal Reserve Bank of Chicago.What is Money Smart Week?Money Smart Week ® is a financial education campaign offering hundreds of programs, classes, and activitiesto consumers of all ages and income levels. These educational events are carried out by financial institutions,non-profit groups, government agencies, schools, and libraries. The week showcases these organizations’educational resources, strengthens private-public partnerships, engages the media, and connects people withthose who can help them learn. The Federal Reserve Bank of Chicago coordinates the effort because individualsand communities benefit when consumers are making informed decisions about their personal finances.1Launched in Chicago in 2002, Money Smart Weeks are now held in more than 50 small to large cities inIllinois, Indiana, Iowa, Michigan and Wisconsin. In addition, Money Smart Week continues to spread beyondthe Midwest in places like Denver, Houston, Kansas City, Nebraska, Oregon, Washington, and West Virginia.The Illinois State Treasurer’s Office partners with the Federal Reserve Bank of Chicago to coordinateMoney Smart Week and promote financial education throughout the state of Illinois. This year welcomesnew treasurer Dan Rutherford to continue that partnership and leadership.“Money Smart Week continues to grow and help people managetheir personal finances. We are very proud of the partners’ effortsin making it such a success.”–– Charles L. Evans, President & Chief Executive Officer, Federal Reserve Bank of Chicago2341– Stephanie Neely, Treasurer of City of Chicago, speaks at the Kickoff Breakfast. 2– John Calamos, Chairman, Chief ExecutiveOfficer and Chief Investment Officer at Calamos Investments gives the DuPage Kickoff keynote. 3– A panel of financial experts,including CNBC’s Maria Bartiromo and Chicago Fed President Charles Evans, discuss topics at the Financial Literacy andEducation Summit. 4– United States Treasurer Rosie Rios speaks at the Summit.KickoffMoney Smart Week partners celebrate the start of each year’s effort with a kick-off breakfast hostedby the Federal Reserve Bank of Chicago. It recognizes the contributions of the partners as well asthe finalists in the annual Money Smart Kid contest. Following the breakfast is a financial literacyand education summit, broadcast online and sponsored by Visa, Inc. The summit annually featuresexperts from around the world discussing best practices and developments in financial education.

3 4In ActionMoney Smart Week activities appeal to a wide variety of consumers. These eventsare held throughout Chicago and its suburbs at convenient times and in severaldifferent languages. Money Smart partners continued to expand their subject offeringsand reach new audiences in 2011. More than 600 events and activities were offeredand the number of attendees and participants exceeded 32,500. Some highlights:Sweeps, Voltage Digital Media and PlayMoolah. This energetic group was moderated byMatt Sapaula, of Matt Sapaula, Inc., and discussed everything from how to become asuccessful entrepreneur to how the economic recession has impacted their careers.n DuPage County offered more than 50 events throughout the county. The group also hadan impressive kickoff at College of DuPage which included breakout sessions on a variety oftopics and a keynote by John Calamos, Chairman, Chief Executive Officer and ChiefInvestment Officer at Calamos Investments.n Visa partnered with The Federal Reserve Bank of Chicago to host a Financial Footballevent for thirty students from Hinsdale South High School. Students moved down thesoccer field and scored by answering financial questions correctly. In attendance as coachesand life-lines were United States Treasurer Rosie Rios, United States CongresswomanJudy Biggert and soccer stars Brian McBride and Cobi Jones.1– “Go Green” exhibit at the Museum of Science of Industry during Money Smart Week. 2– Brian Israel of Future StateConsulting holds a class during MSW. 3– Money Smart class at Morton Grove Public Library. 4– Round table with localteens at “Go Green” Event at the Museum of Science of Industry. 5– Father/son team preparing for the Piggy Bank Pageant,hosted by Hinsdale Public Library. 6– “Get out of Debt With a Plan and One Dollar,” presented by Edward Sanchez at HaroldWashington Library. 7– “Mr. Cub” Ernie Banks at Curie High School with Alice Wood, President & Founder of Wealth WatchersInternational. 8– 2010 Money Smart Kid Kamal speaks at the ISAC College Fair at the Thompson Center. 9– Tracey Frizzellat Chicago Urban League with On The Money magazine interns.561n Chicago Public Schools, in partnership with Wealth Watchers, the Chicago Cubsand The Federal Reserve Bank of Chicago, hosted an event at Currie High Schoolfor students with guest speaker, “Mr. Cub” Ernie Banks. Mr. Banks stressed the importanceof sound financial decisions regardless of income. Students also had the chanceto win Cubs souvenirs and merchandise by playing a financial education game.n Now in its 10th year as a Money Smart Partner, The Chicago Public Librarycontinued its commitment to Money Smart Week by hosting more than fifty events.These events covered a variety of financial literacy topics including personal investmentand finance, IRS updates and credit and debt management. A highlight of this year’sMSW programming was the presentation by Gail MarksJarvis, nationally syndicatedcolumnist, Chicago Tribune, who spoke on “After the Shock: How to Heal andGrow Your Money.” Following her presentation, planners from the Financial PlanningAssociation of Illinois gave free one-on-one financial planning consultations.n Columbia College hosted a panel of bright entrepreneurs who discussed what ittakes to be an entrepreneur, both mentally and fiscally. Contributing to the panelwere artists and entrepreneurs from Sinnerman Ensemble, Money Crashers, The2789

1– Paul Konerko and the Chicago White Sox promote Money Smart Week with a PSA. 2– Calendar of Events insert in LaRaza Newspaper. 3– Chicago Sun-Times insert geared towards children,sponsored by Alstate and Junior Achievement. 4– The “Bens” promoting MSW on the CTA.1– MSKid Kamal at Power 92.3 FM radio event promoting MSW. 2– Chicago Parent advertises the Money Smart Kid Essay Contest. 3– Smarteys.com promotes a MSW event targetingcollege students. 4– MSW advertisement in Extra Bilingual Newspaper, for the Spanish-speaking community . 5– Benedictine University recognizes its involvement in Money Smart throughThe Candor, a student run news publication.41 2 313PromotionThe marketing and promotional effort for Money Smart Week relies on extraordinary donationsof time and energy by partners, in addition to the Chicago Fed’s work. Marketing effortsranged from the distribution of printed calendars with class information to the placement ofMoney Smart Week “inserts” into major newspapers and community publications. This pageshowcases some of these promotional efforts.425MediaThe media’s help is essential for the public to learn about the classes and financialresources available to them. Money Smart Week relies heavily on partnerships thathelp educate viewers, readers and listeners about beneficial programs in theircommunity. This page highlights just a sample of the many interviews, feature storiesand “plugs” provided by all types of media.

2011 Money Smart KidCharles Tiseo, 5th Grade,White Eagle ElementaryRunners-upAshraya Sreedhar, 6th Grade,Still Middle SchoolGuiliana Conte, 7th Grade,St. Juliana SchoolFinalistsAlison DeBruyn, 8th Grade,Summit Hill SchoolKevin Eberhardt, 6th Grade,Francis Campanelli ElementaryBranson Rideaux, 7th Grade,Freedom Middle School1– MS Kid contest winner Charles Tiseo with Chicago Fed President Charles Evans, MSKid committee co-chairKay Kamin and Loretta Abrams, HSBC-North America. 2– MSKid Contest runner-up Ashraya Sreedhar withCharles Evans, Kay Kamin and Kitty Watson, Office of Illinois State Treasurer Dan Rutherford. 3– DuPage winnerAshraya Sreedhar with Harris Bank sponsors. 4– DuPage runner-up Charles Tiseo and siblings.Money Smart Kid DuPageThe Money Smart Week partners of DuPage County recognizedtheir own Money Smart Kids using the same essay question andapplication guidelines as in the Chicago contest. Amazingly, witha separate panel of judges and no prior information about theChicago results, two finalists from the larger contest were alsochosen as the winner and runner-up in Dupage. Ashraya Sreedharof Naperville won the top prize, a $2,000 scholarship sponsoredby Harris Bank. Runner-up Charles Tiseo won the $1500 runnerupprize sponsored by Itasca Bank & Trust. Four other finalistseach received a $100 savings bond from FirstMerit Bank.OurSuccessAPRIL 17 – 24 2010More than 2,500 adults attending Money Smart Week events filled out surveys.Here’s what they had to say:1. How valuable did you find the Money Smart session you just attended?Money Smart KidsNot at all ValuableNot Valuable0.4%1.9%The Money Smart Kid contest tests the financial knowledge of fifth- through eighthgraders.This year participants were asked to answer the following question in an essay:ValuableVery Valuable42.8%54.9%1“You have been asked to give your class a short lesson on the importance of financialliteracy. What would you say and why?”2. How likely are you to change the way you manage your money because ofwhat you learned?In the eighth year of the Money Smart Kid essay contest, approximately 200 essayswere received from students across the Chicago area. The essays were submitted toVery Unlikely2.1%a Money Smart Kid Committee made up of Money Smart partners. Committee membersinterviewed six finalists to assess the kids’ knowledge of the essay topic as well astheir overall “financial smarts.”3UnlikelyLikely11.1%46.0%The 2011 winner was Charles Tiseo, a fifth-grader at White Eagle Elementary. He wasVery Likely40.8%awarded the grand prize of a $5,000 scholarship provided by HSBC – North America.It was presented at the kickoff event on April 4. Charles also received a trophy providedby Money Savvy Generation and one of six laptop computers given to allfinalists by HSBC – North America.3. How likely are you to recommend a Money Smart event to your friends and family?Very Unlikely1.6%Runner-up Ashraya Sreedhar, a sixth-grader at Still Middle School, received a $2,500Bright Start scholarship from Illinois State Treasurer Dan Rutherford. Runner-upGiuliana Conte, a seventh-grader at St. Juliana School, received a $2,500 ScholarshipUnlikelyLikely3.7%39.6%2from Harris Bank.The remaining three finalists each received laptops from HSBC – North America.4Very Likely55.1%*Surveys not scientific. Conducted by the Federal Reserve Bank of Chicagofor basic measurement purposes only.

2011 C H I C A G O PA R T N E R S7FLAGAARP IllinoisABC BankAccion ChicagoAddison Public LibraryAffordable Housing Corporation ofLake CountyAlderman Walter Burnett (27th)All 4 Him Ministries Inc.Allstate FoundationAllstate InsuranceAmerican Doll PlaceAmerican Library AssociationAmerican Metro BankAmeriprise FinancialAnointed Information Resource StrategiesA.I.R.S. Inc.Aon Center BuildingAriel Community AcademyAriel InvestmentsAriel Men’s ClubArlington Heights Memorial LibraryArlington Heights Senior CenterArturo Velasquez InstituteAsset Builders Community DevelopmentCorporationAsset Financial ServicesAtina Group Inc.Bank of AmericaBarrington Bank & TrustBenedictine UniversityBethel New LifeBeverly Financial GroupBleux Financial SolutionsBloomingdale Public LibraryBlue Cross and Blue Shield of IllinoisBMW MoneyWorksBrendan Reilly 42nd Ward AldermanCarol Stream Public LibraryCary Area Public LibraryCasa AztlanCatholic CharitiesCatholic Charities Daybreak CenterCBOECenter on HalstedCFA Society of ChicagoCharles SchwabCharter One FoundationChicago Board Options ExchangeChicago CommonsChicago Community Land TrustChicago CubsChicago Department of EnvironmentChicago Department of Housing andEconomic DevelopmentChicago Parent MagazineChicago Patrolmen’s FCU FinancialPlanning CenterChicago Patrolmen’s Federal Credit UnionChicago Public LibraryChicago Public SchoolsChicago Sun-Times, Terry SavageChicago Talent Development High SchoolChicago Tribune, Gail Marks-JarvisChicago Urban LeagueChicago White SoxChicago Women in TradesChicagoland Chamber of CommerceChinese American Service LeagueCitiBankCiticorp CenterCitizens Utility BoardCity of AuroraCity of Chicago Department of BusinessAffairs & Consumer ProtectionCitywide TitleClaretian AssociatesCME GroupCollege Aid Planners IncCollege Illinois! Prepaid Tuition ProgramCollege of DuPageColumbia College ChicagoCommodity Futures Trading CommissionCommunities Creating ChangeCommunity Media WorkshopConculado General de MexicoConsumer Federation of AmericaConsumers Credit CounselingCook County Assessor’s OfficeCOUNTRY FinancialCrete Public LibraryCrystal Lake Public LibraryDepartment of Housing andEconomic DevelopmentDePaul UniversityDes Plaines Chamber of Commerce& IndustryDes Plaines Public LibraryDrummond ElementaryDuPage Community FoundationDuPage Homeownership CenterDuPage PadsEcon IllinoisEconomic Awareness CouncilEdgewater Community Center – ECCEducate Financial ServicesEdward Jones InvestmentsEisenhower Public Library DistrictElder LawElgin Community CollegeElmhurst CollegeElmwood Park Public LibraryEnterprising Kids Inc.Entrepreneur Alliances International (EAI)Extra NewspaperFamily Credit ManagementFederal Deposit Insurance CorporationFederal Reserve Bank of ChicagoFederal Reserve Bank of St. LouisFifth Third BankFinancial Awareness InstituteFinancial Industry Regulatory AuthorityFinancial Planning Association of IllinoisNorth Shore CouncilFirst American BankFirst United Methodist Church,Chicago TempleFirstMerit BankFlourish StudiosFonfrias Law Group LLC.Forum Mortgage BancorpFountaindale Public LibraryFrankfort Public Library DistrictFull Gospel Ministries ChurchGage Park High SchoolGarfield Park ConservatoryGisella R. Tomasio C.R.P.C.Glen Ellyn Public LibraryGlencoe Public LibraryGlenside Public LibraryGlenview Public LibraryGlobal Alliance of ArtistsGo DirectGood Samaritan Hospital Wellness CenterGovernor Pat QuinnGreat Lakes Credit UnionGreatLight Fee Only Advisors, LLCGreen Hills Public LibraryGuaranteed RateGuaranty BankHabitat for HumanityHarris N.A. and Harris Private BankHCS Family ServicesHeartland Alliance FoundationHeartland Human Care ServicesHelen Plum LibraryHerr Capital ManagementHighland Park Public LibraryHinsdale Bank & TrustHinsdale Library FoundationHinsdale Public LibraryHoffman Estates Branch LibraryHoffman Estates Community BankHoffman Estates Community Resource CenterHolistic Community CoalitionHoly Family Food PantryHQ Services Inc.HSBC North AmericaHyde Park BankHyde Park Neighborhood ClubIdentity Theft Awareness Group (iTAG)Iglesia San Pio – St Pius ChurchIllinois Attorney GeneralIllinois Coalition for Immigrant andRefugee RightsIllinois CPA SocietyIllinois Credit Union LeagueIllinois Department of Financial andProfessional RegulationIllinois Department of Veteran AffairsIllinois Financial PlannersIllinois Housing Development AuthorityIllinois Institute of TechnologyIllinois Office of the Secretary of StateSecurities DepartmentIllinois Secretary of State’s OfficeIllinois SBDC/Duman Microenterprise CenterIllinois State Rep. Maria AntoniaIllinois State TreasurerDan Rutherford’s OfficeIllinois Student Assistance CommissionIndiana Parenting InstituteING DIRECT CaféInternal Revenue ServiceIRS Stakeholder Partnership EducationCommunity (SPEC)Itasca Bank & Trust Co.Itasca Community LibraryJane Addams Hull HouseJCFSJesse Brown VA Medical CenterJewish Child and Family ServicesJewish Vocational Services/Jewish Executive NetworkJoseph CorporationJubilee Faith CommunityJunior Achievement ChicagoJVS ChicagoKeller WilliamsLa Grange Public LibraryLadder Up – Income Tax PreparationAssistanceLake Bluff LibraryLake County CaresLakeside BankLaRaza NewspaperLaw Office of Anne Chestney MuddLiberty Mutual, LLC.Loaves & Fishes Community PantryLockport LibraryLUCHA – Latin United CommunityHousing AssociationM Nack & AssociatesMack Investment Securities Inc.Marshall Field Garden Apartment HomesMatthew Sapaula, Inc.Medinah Park DistrictMercy HospitalMetlifeMetro Corps of Gary IncorporatedMetropolitan Family ServicesMoney Savvy GenerationMoney Sharp Credit Counseling Inc.Moraine Valley Community CollegeMorningstar Investment Research CenterMuseum of Science & IndustryNaperville Public LibraryNational Futures AssociationNational Latino Education InstituteNear North Development CorpNEIU – El Centro CampusNetwork Mortgage LLCNew York LifeNiles Public Library DistrictNLEI – Pilsen Community CenterNobel NeighborsNorth Riverside LibraryNorth Shore Community Bank & Trust Co.North Side Community Federal Credit UnionNorthbrook Public LibraryNortheastern Illinois Ronald Williams LibraryNortheastern Illinois University (NEIU)Northern Trust BankNorthwest Indiana Reinvestment AllianceNorwood Park Senior Satellite CenterOffice Goblins Inc.Office of the City Treasurer of Chicago,Stephanie D. NeelyOld Second National BankOn the Money MagazineOperation HopeOphelia Steen Community CenterOrr Academy High SchoolPacor MortgagePalatine Bank & TrustPalatine Opportunity CenterPark Ridge Public LibraryParkside Partners in Community Building Inc.Paulson Wealth ManagementPeck Bloom, LLCPeggy Notebaert Nature MuseumPeoples Resource CenterPlanning Dynamics Inc.PLCCA OfficesPNC BankPontiac LibraryPoplar Creek LibraryPopular Community BankPrescott School Afterschool ProgramPrimerica Financial ServicesProspect Heights Public LibraryProviso Leyden Council for Community ActionRachel Singer Gordon – Mashup MomRadio DisneyRebuilding ExchangeRegional Fair Housing CenterRiver Forest Public LibraryRiverdale Organizing for ChangeRobert Morris UniversityRomeoville LibraryRoselle Bank & TrustRoselle Public Library DistrictSchaumburg Township District LibrarySCORESCR Medical TransportationSeneca Public LibraryShorewood Troy Public LibrarySkokie Public LibrarySocial Security AdministrationSouth Chicago Financial Literacy GroupSouth Loop ElementarySouth Side Community Federal Credit UnionSouth Suburban Housing CenterSpanish Community CenterSt. Charles Public LibrarySt. Benedict the AfricanSt. Charles Chamber of CommerceSt. Charles Park DistrictSt. John Baptist ChurchSt. Pius ChurchStandard & PoorStandard Bank & Trust CompanyStarbucks CoffeeState Bank of IndiaState Farm Insurance CompaniesState Representative Edward J AcevedoState Representative Susana A MendozaState Senator Antonio MuñozStedman Graham and AADStep Out USASuburban Bank and TrustSummit Public Library DistrictTCF BankThe 11-10-02 FoundationThe Building Employment andEntrepreneurial Partnerships CommitteeThe Garfield Park ConservatoryThe Resurrection ProjectThe West Humboldt Park Development CouncilThorndale Recreation CenterThrivent Financial for LutheransToday’s Chicago Woman, Financial Columnist,Kay KaminTogether We CopeTomacorTriedstone ChurchTrue Star MagazineTrue Star RadioTruman CollegeU.S. Commodity Futures Trading CommissionU.S. Securities and Exchange CommissionU.S. Social Security AdministrationUBS Wealth ManagementUIC Center for Economic EducationUjamaa Junior Investment Club’sWealth WarriorsUnion League ClubUnited Way Metropolitan ChicagoUnited Way of DuPage/West CookUniversity of Chicago AlumniUniversity of Illinois – ChicagoUniversity of Illinois – USFSCO – StudentMoney Management Center (SMMC)University of Illinois at Chicago Center forEconomic EducationUniversity of Illinois ExtensionUS BankVeterans AdministrationVilla Guadalupe Community CenterVirtual RealtyVisa, Inc.Waddell & Reed Financial Services Inc.WalgreensWal-MartWalter & Connie Payton FoundationWealth Watchers InternationalWells FargoWestchester Public LibraryWheaton Public LibraryWhole FoodsWilbur Wright CollegeWilmette Public LibraryWintrust Mortgage CompanyWomen-Eye, Inc.Woodforest National BankWoodson Public LibraryWorking in the SchoolsXwoods EnterpriseYEU Veteran InitiativesYoung Illinois SavesYWCA of Metropolitan ChicagoZeller-500 Michigan LLC

Getting InvolvedPartner GuidelinesOrganizations with an interest in financial education are encouragedto become Money Smart Week partners.n Partners generally include banks, financial institutions, schools, governmentagencies and non-profit community organizations.n All workshops, seminars and activities must be educational in nature, designedto improve knowledge of personal finances, and free and open to the public.n Invitation-only events are acceptable for appropriate audiences.n Sales pitches and/or commercial marketing are strictly prohibited.n A designated representative should manage Money Smart Week activities andattend monthly planning meetings leading up to the event.n Information about scheduled events should be submitted as directed.For more information or questions, contact:Alejo TorresSenior Outreach Program Manager312 .322 .2287Alejo.Torres@chi.frb.orgm o n e y s m artwe e k . o rgMoney Smart Week is a registered service mark of the Federal Reserve Bank of Chicago.