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- Upcoming Event: How Organizations Use the FDIC’s “How Money Smart Are You?” Tool to Strengthen Financial Education - Best Practices and Strategies
- Youth Financial Readiness: Trump Accounts and Other Savings Tools
- Success Story: Bank of the Sierra Helps Youth Build Real-World Money Smart Skills
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Webinar: How Organizations Use the FDIC’s “How Money Smart Are You?” Tool to Strengthen Financial Education - Best Practices and Strategies |
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Wednesday, July 29, 2026 | 1:00 – 2:00 p.m. EST |
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Join us to learn how a university and a community bank are using the FDIC’s How Money Smart Are You? tool to strengthen financial education and improve financial capability. |
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Success Story: Bank of the Sierra Helps Youth Build Real-World Money Smart Skills
In this issue, we interviewed Kevin McPhaill, President and CEO, and Donald Terry, SVP and CRA Officer, at Bank of the Sierra, to learn how they use FDIC Money Smart resources to prepare young people for real world financial decisions. As a Money Smart Alliance member, the bank works closely with schools and community organizations to deliver consistent, hands-on financial education that reflects the financial choices students will soon face.
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Why is youth financial education such a priority for Bank of the Sierra?
“The earlier young people are introduced to money concepts, the more likely those habits are to stick. Even one classroom visit can change how a student thinks about saving, credit, or budgeting—and those lessons often stay with them well beyond high school.”
Who do you primarily reach through your Money Smart efforts?
“Schools are our primary focus, especially high schools. Teachers see students approaching graduation without a clear understanding of real-world financial decisions, and they’re eager for trusted, practical resources like Money Smart that can be used in the classroom.”
Which Money Smart resources do you use most with youth?
“We rely heavily on Money Smart for Young People for younger students and Money Smart for Young Adults for teens. The modular format allows us to tailor sessions based on time, grade level, and what teachers say their students need most.”
How extensive is your financial education outreach?
“We average just over 50 Money Smart presentations each year, totaling about 500 hours annually, and reach approximately 1,200 participants per year across schools and community settings in our seven-county footprint.”
Beyond youth, how are you using Money Smart to support older adults—particularly around fraud prevention?
“We also use Money Smart for Older Adults, especially when working with seniors on fraud, scams, and identity theft. These sessions focus on recognizing red flags, protecting personal information, and knowing what steps to take if something doesn’t seem right.”
Why is fraud education important across generations?
“Fraud doesn’t just affect one age group. Helping older adults protect what they’ve worked for—and helping younger people recognize scams early—strengthens financial readiness across families and communities.”
What advice would you give organizations interested in using Money Smart?
“Don’t wait for the perfect plan—just start. Also, work closely with educators and community partners. They know their audiences, and Money Smart makes it easy to adapt lessons so they’re relevant and engaging.”
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Youth Financial Readiness: Trump Accounts and Other Savings Tools
Helping young people build strong money habits early influences how they manage finances throughout their lives. The FDIC Money Smart program supports this goal by providing free, age-appropriate resources that help children and teens build foundational money skills and confidence.
As families consider ways to save and plan for a child’s future, pairing savings tools with age-appropriate financial education can help youth better understand money, credit, and long-term decision making, including through resources such as Money Smart for Young People.
Trump Accounts Launch July 2026
Trump Accounts are tax-advantaged investment accounts for U.S. citizens under age 18. These accounts are a new type of individual retirement account (IRA) for eligible children, with funds becoming available after age 18 for uses such as education or purchasing a home. Account holders can also continue letting their account grow with all the tax advantages of a traditional IRA.
TrumpAccounts.gov is the official source for current information about eligibility, enrollment, contribution rules, investment features, and account administration. There, families can review program requirements, learn whether a child born on or after January 1, 2025, through December 31, 2028, may qualify for the one-time $1,000 U.S. Treasury contribution, and find instructions for opening an account.
Trump Accounts are a non-deposit investment product and are not insured by the FDIC.
Money Smart Resources for Youth
The FDIC Money Smart program offers free resources that help children and teens build foundational money skills and confidence.
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