Money Smart Alliance Enrollment Survey

Legal Division

550 17th Street NW, Washington, D.C. 20429-9990

Federal Deposit Insurance Corporation

September 4, 2015

 

Memorandum to:         Shagufta I. Ahmed

                                    Policy Analyst              

                                    Office of Information and Regulatory Affairs

                                    Office of Management and Budget

 

From:                 Gary A. Kuiper s/s

Counsel

                                    Federal Deposit Insurance Corporation

 

RE: Money Smart Alliance Enrollment Survey

Under the generic clearance entitled, “Occasional Qualitative Surveys” (3064-0127), the FDIC hereby submits for OMB review the enclosed Money Smart Alliance Enrollment survey.

Money Smart curriculum products are delivered by countless organizations. Some (currently 1,300) financial institutions, non-profit organizations, community- and consumer-based groups, faith-based organizations and government agencies have elected to join the FDIC’s Money Smart Alliance. There is no cost to join the Alliance and participation is voluntary. By joining the Alliance, these organizations agree to teach or promote the Money Smart curriculum. Alliance members also provide feedback to the FDIC that can help improve the Money Smart program, such as successful ways they use the program. The FDIC will generally solicit this feedback through informal discussions with members, such as during conference calls, or through suggestions the Alliance members take the initiative to provide to the FDIC.

In exchange, the FDIC shares updates and other information with Alliance members that can strengthen their efforts, such as through the quarterly Money Smart News publication. FDIC also lists Money Smart Alliance members on the FDIC website if they wish to be accessible to consumers looking for training or organizations interested in supporting ongoing efforts.

The FDIC would like to standardized and automate the process for an organization to join the Money Smart Alliance. We would like to develop an online survey that organizations can complete to submit information to join the Alliance. This replaces a process that currently relies on phone calls and emails and has resulted in outdated information.

As part of this, all existing Alliance members would be asked to complete this form to remain in the Alliance, as some of Alliance members were first added more than 12 years ago and may no longer meet the FDIC’s qualifications to be a member of the Alliance (i.e. they no longer use Money Smart).

FDIC expects to use the information that we gather to gain antidotal insights on how the Money Smart program is used so as to be able to assess the results of FDIC’s outreach efforts. We will also use the data to improve the ability of staff to refer consumers to an organization that is using the Money Smart curriculum to offer workshops.

The estimated burden is set out below:

Estimated Number of Respondents: 1,500

Estimated Time per Response: 5 minutes

Frequency of Response: Once every two years

Total estimated annual burden: 125 hours

If you have any questions, please let me know. Thank you for your consideration.