Building Capital at the Library: Financial Literacy Programming and Partnerships

Mross, Emily; Reiter, Lauren

doi:10.5195/palrap.2019.196

Cited by 3 publications

(3 citation statements)

References 4 publications

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“…Based on experience, for library programs on FL, the most frequent and most important external partners are the state or local government; the non-profit and the financial sector; and employment agencies (Smith and Eschenfelder, 2013; Mross and Reiter, 2019). These partnerships can operate both during planning and implementing these programs.…”

Section: Fl Programs In the Librarymentioning

confidence: 99%

Libraries and financial literacy

Kiszl

Winkler

2022

RSR

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PurposeThe recent financial crises and the economic problems caused by the pandemic highlight the importance of financial literacy (FL). Libraries have an essential role in developing informational literacy and promoting access to information. In this study the authors seek to identify, based on the published literature, in which areas and in what roles libraries engage in the development of FL, and what options are available for those who intend to set out in this direction in the near future.Design/methodology/approachThe basis of the research is a review of the literature, as comprehensive as possible, achieved by keyword- and discipline-focused searches run in the Library, Information Science and Technology Abstracts (LISTA), the Web of Science (WoS) and the Scopus database. At the beginning of the study, the initial list of results had 765 publications, but this number decreased significantly after removing duplicates and sorting the results. Finally, 138 publications were included in the analysis.FindingsLibraries engage in the development of FL mostly through their collections, with recommendations, through education, by organizing programs and through information service. Most successful methods do not require any specialized FL knowledge from librarians. Necessary competences are more related to organizational skills, cooperation with partners and creativity.Research limitations/implicationsThe study is based on publications which include the term financial culture, any of its synonyms, or broader or more specific terms and which are related to libraries in the manner described in the search strategy. The international literature databases chosen for the searches limited the scope of the articles available for inclusion.Originality/valueThe study summarizes the results in libraries related to FL from the past 10 years. There has been no other similar summary published recently applicable in practice.

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Section: Fl Programs In the Librarymentioning

confidence: 99%

Libraries and financial literacy

Kiszl

Winkler

2022

RSR

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“…Authors have researched the significance of partnership in financial education and include Mross & Reiter (2019) who conducted a study in America on financial education partnership that sought to establish how academic library associations' partner with commercial banks and other organizations to support financial literacy education was managed for the student's success. The study surveyed 21 students who attended financial literacy programs organized by the library.…”

Section: Literature Reviewmentioning

confidence: 99%

Promotion of Financial Literacy Through Financial Education Partnership for Financial Inclusion in Kenya: Case of Commercial Banks

BOLDAR,

OMANWA (PhD),

BAIMWERA (PhD)

2022

strategicjournals.com

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The purpose of the study was to assess the effect of financial education partnership on financial inclusion of commercial banks. The study was guided by resource-based theory to hypothesize the relationship between financial education partnership and financial inclusion. The study design adopted was descriptive and a sample of 384 was derived using stratified, simple random sampling from a population of 10,717 management staff from all the branches of commercial banks in Kenya. The study collected and analyzed primary and secondary data. Primary data was gathered using semi-structured questionnaires while secondary data was collected from bank supervision reports and annual statements published by individual banks. The study employed both descriptive and inferential statistics for data analysis. Regression and correlation were applied to determine the relationship between financial education partnership and financial inclusion. The findings established that financial education partnership positively and significantly predicted financial inclusion. This implied that as financial education partnership increases then financial inclusion will be increased. The study concluded that the use of financial education partnership as financial literacy delivery channel increased financial inclusion. Commercial banks in Kenya sparring used financial education partnership. The majority used a partnership with the government to promote financial literacy by conducting workshops and conferences. The study recommended that commercial banks management should adopt aspects of financial education partnership currently not used. These include financial education sponsorship, partnering with other financial institutions, academic institutions through organizing lectures, and also being involved in a nationwide campaign to promote financial literacy.

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“…Conducting an environmental scan and getting to know the needs of your community is a best practice and an important first step when developing library financial literacy programs and services (Mross and Reiter, 2019a). Start with the questions you would like to answer, such as "Are students worried about money?," "What are their biggest financial concerns?," "Does the university offer any personal finance courses?," and "Are there other campus units already providing financial literacy programs and services?…”

Section: Identify Financial Literacy Needs and Partnersmentioning

confidence: 99%

Building Capital at the Library: Financial Literacy Programming and Partnerships

Cited by 3 publications

References 4 publications

Libraries and financial literacy

Libraries and financial literacy

Promotion of Financial Literacy Through Financial Education Partnership for Financial Inclusion in Kenya: Case of Commercial Banks

We’re in the Money: A Guide to Getting Involved in Student Financial Literacy for Business Librarians

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