By Carolyn Merryweather
October 17, 2005

Mayors from cities across the country participated in Dollar Wi$e Week September 26 through October 1 to promote their local Dollar Wi$e financial literacy campaigns. Sixty cities are now participating in the national Dollar Wi$e Campaign, which is run by The United States Conference of Mayors Council for the New American City, and sponsored by Countrywide Financial.

Mayors, who participate in the ongoing Dollar Wi$e Campaign, commit to promoting financial literacy in their cities by either expanding a financial education program already running in the community, or by starting a new initiative to educate people about personal financial issues. Dollar Wi$e Week is an annual event designed to give mayors the opportunity to coordinate their efforts to promote the local campaigns with other cities participating in Dollar Wi$e.

Some examples of activities cities participated in during Dollar Wi$e Week include:

Rock Island (IL) and Davenport (IA) teamed up for their Dollar Wi$e campaigns and held a joint press conference September 26. Both cities held classes on financial education during Dollar Wi$e Week with the help of local banks and community groups. “The purpose of the campaign is to try to increase community awareness and citizen awareness of good money management,” said Rock Island Mayor Mark Schwiebert. “Improved financial knowledge will result in a higher standard of living and more stable neighborhoods in Davenport,” Davenport Mayor Charlie Brooke agreed.

“It’s important for residents young and old to learn solid financial skills because these are lessons that will last them a lifetime,” said Louisville Metro Mayor Jerry Abramson, at a kickoff event for his city’s Dollar Wi$e campaign September 28. The kickoff event for the Louisville Metro Dollar Wi$e Campaign was held at the newly completed Junior Achievement Chase Finance Park, and workshops on subjects including financial fitness for young people, homeownership, and basic banking skills were held around the city.

Quincy (IL) Mayor John Spring launched his city’s Dollar Wi$e campaign September 27. The “Your Paycheck” program is sponsored by the city, the Quincy Chamber of Commerce, the Federal Reserve Bank of St. Louis, Culver-Stockton College and Quincy University. Through "Your Paycheck," teenage employees of the County Market grocery store and the Quincy Herald Whig newspaper attended classes on basic banking skills, taxes, and saving taught by Culver-Stockton and Quincy University students who received training from the St. Louis Federal Reserve. “By taking the time and effort to attend a class like this, it will only enhance their chances of understanding how important it is to have a sense of how to deal with finances,” said Spring when he addressed the inaugural “Your Paycheck” class.

Bowling Green worked with a local non-profit group called Girls, Inc. that works with girls from low-income families. The group held a class September 26 on basic banking for a group of 11 and 12 year old girls. As part of the ongoing Dollar Wi$e Campaign, Bowling Green is holding workshops on “Financial Fitness” and “Home Buyers Education” for city residents from September through November. “The greatest tax benefit for people comes through home ownership,” said Bowling Green Mayor Elaine Walker.

For more information on the Dollar Wi$e Campaign, or to sign your city up, please visit the web site www.dollarwiseonline.org or call Carolyn Merryweather at 202-861-6759.