By Dustin Tyler Joyce
November 6, 2006

APPLY NOW! Applications for Dollar Wi$e Capacity Grants Available Applications for the 2007 Dollar Wi$e Capacity Grants Program are now available and are due by December 5. Only cities that are registered participants of the Dollar Wi$e Campaign are eligible to apply. Currently registered members of the campaign will automatically receive an application in the mail. Mayors and their authorized representatives can register their cities at www.dollarwiseonline.org. Registration is free. Applications for the grants should be submitted online. Dollar Wi$e Capacity Grants serve to help cities and their community partners enhance and expand current financial education efforts and build upon past successes. In each round, one city receives a grant for $25,000 while two other cities receive grants of $15,000 each. Past winners have used their grants for a variety of purposes, ranging from hiring a director for their financial literacy programs to increasing the number of classes and workshops offered to the general public. The grants are fully funded by the generous support of Countrywide Financial, which has given Dollar Wi$e a $1 million grant over five years. Countrywide is the founding sponsor of the Dollar Wi$e Campaign.

Over the past year, the National Dollar Wi$e Campaign’s Capacity Grants Program has awarded grants to six cities. These cities include Bowling Green (KY), Detroit (MI), Miami (FL), Pleasanton (CA), Quincy (IL), and Savannah (GA). The grants, which ranged from $15,000 to $25,000, help cities with innovative financial education programs expand and enhance their efforts.

Applications for the next round of Dollar Wi$e Capacity Grants are now available, and winners will be announced at the Conference of Mayors’ Winter Meeting in January in Washington (DC). As we look forward to the next round of Capacity Grants, we take a look back at recent activities in two cities that have benefited from Capacity Grant money: Miami (FL) and Bowling Green (KY).

Mayor Manny Diaz kicked off Miami’s yearlong financial literacy program at a Dollar Wi$e Week event organized by The Parent Academy, an adjunct of Miami-Dade County Public Schools. ACCESS Miami, the city’s comprehensive poverty alleviation program, sponsored the event at Morningside Elementary School. The collaborative City of Miami-Parent Academy program is supported by funding from Miami’s Dollar Wi$e Capacity Grant.

Diaz applauded the event’s attendees for their participation in The Parent Academy. Many were young mothers and recent arrivals in America whose humble backgrounds were similar to Diaz’s own family, who immigrated from Cuba. Diaz described why he believes proper financial management is essential to building stable families and opening the door to future opportunities. Programs such as Dollar Wi$e and ACCESS Miami would not be possible, Diaz explained, without the partnership and support of organizations such as Countrywide Financial.

Those in attendance participated in a quiz that showcased the financial skills ACCESS Miami has helped participants learn and apply. The group’s financial knowledge was impressive; many were immigrants only learning English, and yet could correctly respond to questions about the complexities of America’s banking system. Dollar Wi$e calculators and other gifts were awarded as prizes.

Willy Porro, Director of ACCESS Miami, briefed the attendees on the many elements of the program and encouraged them to take advantage of the various available city resources. Jose Hidalgo, a vice president and area sales manager for Countrywide, represented Countrywide Financial and accepted the city’s proclamation of Dollar Wi$e Week on behalf of his company.

Mayor Elaine Walker and her staff participate in numerous activities throughout the year in building up Bowling Green’s Dollar Wi$e campaign and using the city’s Capacity Grant award money. Dollar Wi$e Week proved to be particularly busy for the city’s financial literacy effort.

Junior Achievement conducted its “Personal Curriculum” at Bowling Green High School throughout the week. Section 8 clients participated in a “Weatherization” workshop. Three classes were conducted at the Juvenile Detention Center on “Going to College and How to Pay for It.” The city’s ongoing “Brown Bag” financial literacy workshop series at the local community college continued with a seminar on “Got Money? The Low Down on Loans”. Community workshops for the general public included: Understanding Your Credit Report & Credit Score, and Budget & Credit.

Walker and city staff continue to emphasize the importance of financial literacy by spreading the word through the media. Recently, the local newspaper, the Daily News, and the student newspaper at Western Kentucky University, the College Heights Herald, both ran a feature story on financial education. Carol McClure, Director of Housing and Community Development for Bowling Green and director of the local Dollar Wi$e campaign, and Craig Browning, regional President of U.S. Bank, spoke about the need for personal financial and banking skills on local ABC affiliate WBKO-TV’s Midday Live newscast.

Dustin Tyler Joyce manages the National Dollar Wi$e Campaign. For more information on what your city can do or for more information about the campaign, visit www.dollarwiseonline.org, call 202-861-6759, or send e-mail to dollarwise@usmayors.org.