TNFLC announces financial literacy grants to libraries in economically distressed counties

April is Financial Literacy month, and the Tennessee Financial Literacy Commission is announcing a new program to bolster financial literacy outreach to children and families in the nine most economically distressed Tennessee counties. The Commission will offer $5,000 grants to the public libraires in Bledsoe, Clay, Cocke, Grundy, Hancock, Lake, Lauderdale, Perry, and Scott Counties. 

On April 21, the Tennessee Financial Literacy Commission, along with State Treasurer David H. Lillard, Jr., Lauderdale County Mayor Maurice Gaines Jr., Mayor Craig Fitzhugh, City of Ripley, and Assistant Treasury Ashley Nabors presented the first grant check to the Lauderdale County Library. To accept the grant from the library were Director Wanda Clark, Technology Director Jan Houston, and Children’s Librarian Emily Marchin, along with members of the Lauderdale County Board of Directors, Chairman Martha Webb and Lauren Massongill, and Hatchie River Regional Library Director Genny Carter.

Each library will use the grant to establish a dedicated area to promote financial literacy for children and families. Libraries will purchase books, educational games, technology, and other materials recommended by the Commission, to create and stock these areas. The granted libraries will also host community events to share these resources with patrons.

“This grant program will create an opportunity for multigenerational learning,” Treasurer Lillard said. “By learning and working together, families can recognize ways to manage their money, cut expenses where they are able, and discover how to save for the future, which are all important steps towards financial growth.”

“I think these Financial Literacy resources will be very important for our community because we are a low socio-economic area,” Mayor Gaines said. “The Tennessee Literacy Commission will help parents and children achieve their goal to learn about finances.”

“I am proud to see the first grant awarded to the Lauderdale County Library,” Mayor Fitzhugh said. “There are many exciting things happening in the state that will have a wonderful impact on Ripley’s economy. I know that Wanda Clark and her team will use these resources to get the citizens of our county engaged in conversations on budgeting and saving.”

The mission of the Tennessee Financial Literacy Commission is to improve the lives of Tennesseans through financial literacy by providing innovative educational resources to Tennessee schools and families. Since 2012, the Commission has offered free financial literacy resources to Tennessee schools and has trained teachers to incorporate these resources into their classrooms through curriculum, online programs, and experiential learning.

During Financial Literacy month, families in all Tennessee counties can take advantage of two online learning platforms offered by the Commission: The Financial Empowerment Resource Library is a web-based adult education tool, covering financial topics such as, Budgeting, Building an Emergency Savings, Credit Scores and Reports, Home Ownership, Checking Accounts, and Retirement. The Commission offers the Vault-Understanding Money interactive challenge to help children in grades 3-8 grasp critical financial concepts in income, careers, planning, credit, borrowing, insurance, safety, savings, investing, and more! These resources are available to all Tennesseans at TNFLC.org.