Governor of Delaware Proclaims New Financial Literacy Funding

Delaware Governor Jack Markell is promulgating the latest in a series of financial education grants that has been rolled out to support financial literacy across the state. Proceeds from the Delaware Financial Literacy Education Fund are earmarked for programs and services that enable the state’s residents to learn the importance of, and effective ways to, save, budget, invest and manage their overall personal financial affairs.

Hundreds of Delaware residents already are beneficiaries of the financial literacy efforts that have been sparked during the first three years of the program. During 2013 alone, the Delaware Financial Literacy Education Fund supported nearly twenty organizations. Moreover, Governor Markell also developed and launched the “Stand by Me” initiative, which is a partnership with the United Way of Delaware that provides state residents with a personal financial coach, as well as a toolkit that enables participants to better understand and implement their personal financial affairs.

Proposals for grants increasingly are being evaluated based on the extent to which they increase the levels of financial literacy among Delaware residents. Proposals also are encouraged to target population segments that historically have had limited access to traditional banking and other financial services, as well as those populations that typically lack financial education services. The criteria for the grant program were established by the Office of the State Bank Commissioner and the Department of Education.

More information about the grant program can be found here.