RELEASE: Treasurer Summers Kicks-Off ​Financial Capability Month 2015

Launches Social Media Campaign to Provide Financial Education Tips and Resources to Chicagoans Throughout April

CHICAGO – Chicago City Treasurer Kurt Summers today kicked-off National Financial Capability Month with a social media campaign to share tips, resources and smart money savings ideas throughout the month of April. As proclaimed by President Barack Obama, National Financial Capability Month is an effort to raise public awareness around the importance of financial capability and the need for financial education. The campaign also encourages collaboration and acknowledges the many and diverse contributions that local organizations and financial education providers have made in support of this effort.

“A financially healthy Chicagoan adds to the financial well-being of our city,” Treasurer Summers said. “Financial Capability Month is a great opportunity to start talking about smart money decisions at home. From a teenager opening a new bank account with hard earned babysitting money to an adult regularly checking their credit score, there are many ways get started on the path to financial empowerment.”

Throughout the month of April, the Chicago City Treasurer’s Office will post tips and links on social media and at chicagocitytreasurer.com to help connect Chicagoans with financial education resources. Those interested can follow the Treasurer on Twitter at @kurtasummers and on Facebook at facebook.com/summerschicago.

Some simple tips for adults include:

  • ​Establishing a monthly budget that includes expected expenses and savings for future needs or wants
  • Having an emergency or rainy day fund of three months non-discretionary expenses in a savings account
  • Checking your credit score on a regular basis

The Treasurer’s Office is also committed to connecting Chicagoans with safe and affordable checking and savings accounts. Because the cost of using check cashers can add up to $65 a month, the Treasurer’s Office, local banks, and community partners have established the Bank on Chicago Program to help unbanked and under-banked Chicagoans get access to reliable, mainstream bank accounts. To find out more, visit: www.bankonchicago.com.

In March, Treasurer Summers launched Chicago’s first ever Financial Education Plan with Arne Duncan, Mayor Emanuel, Barbara Byrd Bennett and John Rogers of the President’s Council on Financial Capability for Young Americans. The Initiative brings together for the first time these more than 130 financial education providers from across the city, the Mayor’s Office, the City Treasurer’s Office, Chicago Public Schools, Chicago Public Library, Department of Family & Support Services, and Chicago City Colleges to develop a plan that will provide Chicagoans with access to quality financial education programs and supports that can lead to a future of financial empowerment. For more information on Chicago’s financial education plan, please click here​.