The Link

2/2/2010
STATE LIBRARY OF IOWA

State Library awarded grant to train Iowans on finances and investments

(February 2, 2010) - The State Library of Iowa has received a $98,251 grant to help rural Iowans strengthen their knowledge of and confidence in investing. The grant will build the capacity of 25 rural Iowa libraries to provide effective, unbiased investor education. The State Library of Iowa is the only state library and one of only 19 institutions nationwide to receive funding in 2010 from the Financial Industry Regulatory Authority (FINRA) and the American Library Association (ALA).

Participating libraries will host face-to-face and online education provided by Iowa State University Extension staff to connect library users to high quality financial resources and information. The online component enables participants to take the classes when it is convenient for them, and minimizes travel time and expense. Ames Public Library, a previous grant recipient, will partner with the State Library of Iowa to select financial resources for the participating libraries and help train library staff.

The 25 Iowa public libraries will be named in March 2010. They must have available meeting space, public access computers, a Web site and a local partner. Three different courses will be offered to Iowans: those who are first-time investors, those preparing for retirement, and retirees. Participating libraries will receive $575 worth of library books and DVDs about investing. The grant will also cover the cost of publicity for the courses.

According to Governor Chet Culver, "Every day, Iowans are exposed to so much news about finances and the economy that it's challenging to sort out the best information. Through this grant, public libraries will provide Iowans with tools they can use to identify reliable, trustworthy investment information and plan their financial futures."

"Iowa's libraries empower people to make decisions and solve problems," said State Librarian Mary Wegner. "We are delighted to partner with Iowa State University Extension and the Ames Public Library to provide these classes about financial literacy in rural areas of the state."

The FINRA Investor Education Foundation supports innovative research and educational projects that give underserved Americans the knowledge, skills and tools necessary for financial success throughout life.

ALA's mission is to provide leadership for the development, promotion, and improvement of library and information services and the profession of librarianship to enhance learning and ensure access to information for all.

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(Contact: Annette Wetteland, State Library, 1-800-248-4483, 515-281-7574, Annette.wetteland@lib.state.ia.us)