Thursday, April 5, 2007
ALA Project Director
(800) 545-2433, x4396
NASD Foundation Media Relations
American Library Association, NASD Investor Education Foundation Team Up to Promote Investor Education in U.S. Libraries
Chicago — The American Library Association (ALA) and the NASD Investor Education Foundation announced today they are working together on a new grant program called "Smart Investing @ your library®." Through this program, the ALA and the NASD Foundation will help build the capacity of public libraries to provide effective, unbiased investor education. During the two-year pilot phase of this program, a select group of libraries will be invited to compete for up to 12 grants that range in size from $5,000 to $100,000.
"Knowing where to go for reliable investor education resources is a challenge for many Americans," said ALA President Leslie B. Burger. "ALA is pleased to work with the NASD Investor Education Foundation to remind Americans that they can freely access this vital information at their local public libraries."
"By funding this grassroots program, we will be able to provide investors in communities across the country with easy access to high-quality investor education materials and services through one of the most valuable resources available anywhere - the local public library," said NASD Foundation Chairman Mary L. Schapiro, who also serves as NASD's Chairman and CEO.
"Smart Investing @ your library®" will be administered jointly by the Reference and User Services Association, a division of the American Library Association, and the NASD Foundation. Margaret Monsour will be the ALA project director. The program will support public libraries in their efforts to meet investor education and protection needs at the community level.
It will encourage innovation in library programming by helping libraries serve patrons not only at the libraries themselves, but also online and in a variety of community settings. Priority will be given to projects in which libraries work in partnership with civic groups, educational institutions and government agencies among others. In addition to the grant support, the program will provide objective investor education materials to the participating libraries, as well as professional development for librarians. Established in 1876, the American Library Association is the oldest and largest library association in the world. Its mission is "to provide leadership for the development, promotion, and improvement of library and information services and the profession of librarianship in order to enhance learning and ensure access to information for all." For more information, visit http://www.ala.org.
The NASD Investor Education Foundation supports innovative research and educational projects that give investors the tools they need to better understand the markets and the basic principles of saving and investing. To date, the NASD Foundation has approved nearly $8.3 million in grants and an additional $10.2 million in direct investor education programming. For details about grant programs and other NASD Foundation initiatives, visit www.nasdfoundation.org.
NASD is the leading private-sector provider of financial regulatory services, dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. NASD touches virtually every aspect of the securities business-from registering and educating all industry participants, to examining securities firms, enforcing both NASD rules and the federal securities laws, and administering the largest dispute resolution forum for investors and registered firms. For more information, please visit our Web site at www.nasd.com.