Schaumburg library grant to help struggling residents

The Schaumburg Township District Library has recently received a grant that will be used to support resources and programs to reach community members facing financial hardship.

The Financial Industry Regulatory Authority Investor Education Foundation and the American Library Association awarded the $87,000 grant in conjunction with the Rotary Club of Schaumburg-Hoffman Estates Charitable Foundation.

The money will be used locally to extend the resources developed in Phase 1 of the "It's Your Money: Get Smart" program. The project will expand the library's collection of resource and reach out to the community in new ways.

Library Deputy Director Rebecca Teasdale explained that the project will help residents facing problems from job loss and the poor economy. New content and an interactive Q&A feature will be added to the library's investing web page.

"We will also create a physical personal finance center at the central library that will gather the library's resources together to help library users easily find and use our financial information," Teasdale said.

The library will also partner with the Consumer and Family Educators at the University of Illinois Extension to help local employment counselors and social service providers share financial information and resources with their clients.

YouTube videos and other resources developed during the first phase of the project are available at the library's Website by going to stdl.org, clicking on the Research button and then selecting "Investing and Personal Finance."

New programs and materials connected with the "It's Your Money: Get Smart" grant will be announced in the fall of 2011 both online and in the library's "News and Programs Guide" mailed to Schaumburg Township residents.