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Smart investing@your library: Program Models That Work


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Smart investing@your library®: Program Models That Work, Sponsored by RUSA’s Business Reference and Services Section (BRASS), was presented at the ALA Annual Conference, 2012

Smart investing@your library grantees are at the forefront of financial literacy programs that reach all economic and interest levels.

Learn how they are creating models that use social media to capture attention, design games that appeal to kids, teens and adults, partner with social service agencies and market innovative school programs to provide unbiased financial education and resources. As more people need and want to learn how to manage their personal finances, these innovative libraries are leading the way.

Speakers: Paolo Melillo, Orange County Public Library (FL); Kurtis Kelly, Estes Valley Library (CO); Nelly Somerman, Schaumburg Township District Library (IL); Jim Blanton, Chesapeake Public Library (VA); Karla Heberlig, York County Public Library (PA)
Moderator: Susan Wolf Neilson, Wake County Libraries

Published in: Education
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Smart investing@your library: Program Models That Work

  1. 1. Smart investing@your library ®Program Models that Work INFORMING TODAY’S INVESTORS Conference ALA Annual June 23, 2012, Anaheim
  2. 2. Smart investing@your library®What is Smart investing@your library®?• Established in 2007• Administered jointly by RUSA Division of ALA and the FINRA Investor Education Foundation• Funds library efforts to provide patrons with effective, unbiased educational resources about personal finance and investing• Has awarded 82 grants totaling over $6 million• Grantees represent 800 library facilities that reach a service-area population of 27 million• Still growing• Expanding to community college libraries beginning in 2012
  3. 3. Smart investing@your library® A Growing Program . . . Genesee Seekonk Fairfield Jackson
  4. 4. Smart investing@your library®
  5. 5. FINRA Investor Education Foundation• Established in 2003• Mission: Provide underserved Americans with the knowledge, skills and tools necessary for financial success throughout life• Awards grants and manages projects focused on financial and investor education• &
  6. 6. Reference & User Services Association• RUSA supports reference and information professionals who make the connections between people and the information sources, services, and collection materials they need.• You’ll find RUSA members in every type of library- working in adult services, business, reference, teen and children’s departments to serve users for all ages.
  7. 7. Smart investing@your library ® Program Models that Work INFORMING TODAY’S INVESTORS
  8. 8. Smart investing@your library® Program Models that Work Orange County Library System, Orlando, FL • Population: 1 million + • Locations: main library + 14 branches • Annual visits: 4.9 million (2011) • Circulation: 12.7 million (2011) First Grant Project • Duration: 22 months (2008–2009) • Amount: $96,360 • Audiences: Lower-income Hispanics Lower-income African Americans Second Grant Project • Duration: 18 months (2011–2012) • Amount: $51,150 • Audience: Service industry employees
  9. 9. Orange County Library SystemPrimary Partner • Rollins College Crummer School of BusinessPromotional Partners • Hispanic Business Initiative Fund • National Black MBA Association, Inc.
  10. 10. Orange County Library System Mutual Benefits Benefits for the Orange County Library System • Draw on the college’s expertise • Gave workshops greater credibility • Saved staff time and effort • Enabled library staff to focus on their specialties • Join in with the partner’s marketing efforts • Promote library as a center for reliable financial information
  11. 11. Orange County Library System Mutual Benefits Benefits for Rollins College & the MBA students • Improve and hone presentation skills • Develop a greater awareness of community work • Exposure to diverse communities • Improve leadership skills • Support the school’s mission of community service
  12. 12. Orange County Library SystemPrimary Partner • Rollins College Crummer School of BusinessPromotional Partner • Central Florida Hotel and Lodging Association (CFHLA)
  13. 13. Smart investing@your library® Program Models that Work Lessons Learned • Carefully define the scope of the project and partnership • Know your partners, their mission, challenges and limitations • Know your target market • Regular communication • Be open to change and be flexible • Look for other opportunities
  14. 14. Smart investing@your library® Program Models that Work Estes Valley Library, CO • Population: 11,000 year round 60,000 summer 3 million park visits • Cardholders: 10,954 • Annual visits: 196,165 • Circulation: 206,477 • Programs/yr: 572 (attendance 15,090) • 2011 highlight: 44% growth in adult program attendance Common Cents Counts Improve youth financial literacy; provide practical money skills to young parents and young workers • Duration: 2 years • Amount: $62,203 • Audiences: Working adults High school students Early intervention (4 to 10 year-olds) General audiences
  15. 15. Estes Valley Library Positive Outcomes • 447 total surveys • 262 presentations and sessions • 2,805 participants • 52% increase in circulation of financial titles • Sustained awareness campaign (including newspapers) • Common Cents Counts website • Buck $tarts Here Center at the library
  16. 16. Estes Valley Library Partnerships • Advisory board • Park School District • Key informants:  Local food bank  Health clinic  Childcare reps • Major employers (for onsite workshops) • Schools (for onsite instruction) • Newspapers
  17. 17. Estes Valley Library Staying Flexible • Website development: timeline is always a challenge • Teen leaders and delivery of curriculum to students • Financial workshops in Spanish • Varying results with onsite instruction for workers
  18. 18. Smart investing@your library® Program Models that Work Schaumburg Township District Library, IL • Population: 126,000 • Annual visits: 1.2 million • Circulation: 2.4 million Grant Project • Duration: 2 years • Amount: $87,000 • Audience: Community members facing financial hardship due to the economic downturn and job loss • Main partner: University of Illinois Extension, Department of Consumer Economics
  19. 19. Schaumburg Township District Library Internal Partners • Director of Reference Services • Corporate & Small Business Liaison Librarian • Hoffman Estates Branch Coordinator • Director of Graphic Services • Public Relations Coordinator External Partner • Karen Chan, Certified Financial Planner University of Illinois Extension, Consumer Economics AFCPE Educator of the Year Social Service Providers • Homeless assistance centers • Human services departments • Job networking groups • Police department • Community colleges • State department of unemployment • Churches • Family counseling centers • Employment counselors
  20. 20. Schaumburg Township District Library TRAIN-THE-TRAINER MANUAL For service providers working with unemployed and underemployed clients Topics Tools MANAGING YOUR FINANCES LOAN COMPARISON GUIDE • Avoid Money Traps • Managing Debt TAKING CONTROL OF SPENDING WEEKLY EXPENSE TALLY SHEET • Strategies for Spending Less • Stretching Your Food Dollar HELPING FAMILIES COPE COMMUNITY RESOURCES • Communicating Under Pressure • Helping Children Cope
  21. 21. Schaumburg Township District Library
  22. 22. Schaumburg Township District Library Lessons Learned • Create and maintain a project timeline • Choose partners carefully • Work with community social service providers  to educate them about the library resources available for their clients  to reach non-library users  to create good will toward the library
  23. 23. Smart investing@your library® Program Models that Work
  24. 24. Chesapeake Public Library
  25. 25. Chesapeake Public Library
  26. 26. Chesapeake Public Library
  27. 27. Smart investing@your library® Program Models that Work York County Library System, PA • Population: 420,000; 1 in 3 with a library card • Locations: 13 • Annual visits: 1.5 million Grant Project • Duration: 20 months, 2010–2011 • Amount: $43,505 • Audiences: Children ages 5–7 & their parents • Objectives:  Establish a habit of using the library  Introduce children to key financial concepts  Reinforce parents’ financial knowledge and help them positively influence their children’s future money management skills  Build awareness about financial literacy resources available through county libraries
  28. 28. York County Library System Project Components • Right on the Money curriculum for children ages 5–7 and their families, hosted at 12 York County Libraries • Spanish-language sessions at two libraries • Seven elementary school financial literacy assemblies • Financial literacy training for York County Libraries customer service staff • Financial literacy collection development • Marketing plan
  29. 29. York County Library SystemImpact• 90 families (208 children & parents) participated in 2010–2011; 68% with perfect attendance• 81% of parents indicated they felt more confident about planning their family’s finances• 90% of parents indicated they felt more confident in talking with their children about money• 100% of parents planned to use strategies presented during the workshop series• Three-months later, 94% said they had been using strategies taught during the workshops• 85% of families pledged to borrow financial literacy resources from their library’s collection at least once a month following the completion of the workshop• 87% have remained active library users
  30. 30. York County Library System Partnerships • Lutheran Social Services • Pennsylvania Office of Financial Education • Penn State University Cooperative Extension • All 13 York County Libraries • Public school districts • Media Results Achieved with Partnerships • Needs vs. wants assemblies for 1,365 K–2 students in elementary schools • Financial training for 68 staff representing 9 libraries • Financial stability resource manual distributed to each training attendee and library • Final celebration for 800 children and their families held during the Summer Reading Club kick-off event
  31. 31. York County Library System Lessons Learned • Gaining buy-in from library staff is critical to the success of a county-wide project. Make the rounds, make it fun, make it easy! • Overcoming a poor training partner: Consider creating an MOU for partners to outline clearly all expectations of both parties; use this as your accountability tool • For in-school assemblies, partners are key, as well as good organization and flexibility
  32. 32. Smart investing@your library® Program Models that WorkStrengthen local economies with information andlibrarian-built and tested solutionsDemonstrate value of library as trusted resource forfinancial education resourcesInnovate with nontraditional library programs andrecognized universal access
  33. 33. Smart investing@your library®Margaret Monsour Nelly SomermanAmerican Library Association Schaumburg Township District nsomerman@stdl.orgPaolo Melillo Jim BlantonOrange County Library System Chesapeake Public jblanton@infopeake.orgKurtis Kelly Karla HeberligEstes Valley Library York County Library Moderator: Susan Wolf Neilson, Wake County Libraries, NC