Multiple surveys and studies have found that women tend to be more anxious than men about their financial future and less informed about how to secure it. Their salaries are still lower than those of their male counterparts and they enter and exit the workforce more often due to childrearing responsibilities. This often results in smaller or no retirement plans. Additionally, women tend to outlive men by seven years on average, meaning their smaller retirement funds have to last longer.

The above situation coupled with the current economic climate means that many women are being forced to take stock of their finances in a new way. Retirement savings have diminished. College loans have become overwhelmingly large for young women just starting out. Mid-career women are going back to school and taking care of their parents at the same time. It can all be overwhelming!

However, Curtis is now in a position to provide training and support around all of these issues, as the library is a 2011 recipient of a $73,000 grant from a partnership between the American Library Association and the FINRA Investor Education Foundation.  The goal of the grant is to develop financial training materials and programs that will address the unique needs of women of all ages with respect to money management. Two libraries in Maine received a grant this year, Camden Public Library being the other. Approximately twenty libraries nationally received a grant.

The funding from the grant will allow Curtis to provide resources in several areas. A space in the library will be dedicated to providing books, magazines, newspapers and electronic resources focused on the topic of managing money. These materials will be available to all library patrons. A website will be developed with financial information specifically targeted to the life-stages of women, as well as financial resources of interest to both women and men. Finally, an intergenerational women’s investment education club will be formed to meet on a monthly basis to hear speakers on investing and share learning among members.

We are tremendously excited about this grant. It is an honor for Curtis to receive it and it will provide substantial programming and support for the community in a much needed area.

Please feel free to contact Liz Doucett, Library Director, 725-5242, ext. 211 (edoucett@curtislibrary.com), Ellen Hawkins, Financial Program Developer, ext. 216 (ehawkins@curtislibrary.com), or Martin Blasco, Financial Librarian, ext. 217 (mblasco@curtislibrary.com).