Investor's University

State of Alabama
During 2005, the Alabama Cooperative Extension System, AARP Alabama, and the Alabama Securities Commission initiated a statewide partnership to promote personal finance and investment education for Alabama citizens between 50 to 65 years-of-age. Each series of programs is referred to as an "Investor's University." Funding for the series of Investor's Universities is made possible by a grant request from the Alabama Securities Commission to the Investor's Protection Trust (IPT) and AARP.

Joan Carter, State Director of AARP Alabama, Speaker at the Investor's University--Birmingham		Dan Lord, Education and Public Affairs Manager, Alabama Securities Commission, Luncheon Speaker at the Botanical Gardens in Birmingham, Alabamaa		Cynthia Whittaker, Urban Regional Extension Agent, North Alabama Region 3, Chairman of Investor's University--Birmingham

These programs are free, generally held between 9:00 a.m. to 1:00 p.m., and include a nice sit down lunch. Speakers talk about different investment products, estate planning tips, fraud prevention, reverse mortgages, insurance, and other areas concerning personal finance. Initially, the programs are being held in Alabama's urban areas, but plans are underway to offer the Investor's University in rural areas as well.

Joseph P. Borg, Director, Alabama Securities Commission, Luncheon Speaker at the Investor's University in Huntsville, Alabamaa		Carol Nix, Housing Program Officer, Birmingham Office for HUD		Michael Herndon, Manager, Financial Planning Issues, AARP, Washington, DC

The first Investor's University convened at the Botanical Gardens in Birmingham, Alabama on February 22, 2006. The attendance was very good despite inclement weather. Two hundred thirty-five participants registered by phone the preceding day. Telephone registration was important because it determined the number of lunches to prepare. Total participation was 183. Of the 183 attendees, 117 evaluations were returned. Participants rated the Investor's University "very satisfactory" to "excellent." In addition, attendees requested future programs on such topics as housing opportunities, college education plans, annuities, retirement investment options, Individual Retirement Accounts (IRAs), Roth IRAs, stocks and bonds, the appropriate age for social security and disability benefits, health insurance options, small business plans for entrepreneurs, preparation for long-term care, and payment plans.

Ray Holton, AARP Volunteer		Mary Malone, Urban Regional Extension Agent, North Alabama Regions 1 & 2, Chairman of Investor's University--Huntsville

Furthermore, participants recommended that similar programs be held in neighborhoods and churches due to a lack of transportation. They suggested that programs of this nature be offered to younger audiences 20-35 years-of-age. In addition, there were strong indications that churches be added to the partnership.

Theresa Carter, Regional Extension Agent, North Alabama Region 2		Left to Right: Celia Fabery [partially shown], Urban Secretary, North Alabama Regions 1 & 2; Lelia Wissert, Regional Extension Agent, North Alabama Region 1; Ruth Brock, Regional Extension Agent, North Alabama Region 3; and Betty Broman, County Extension Coordinator, Madison County

Left to Right: Gay Watson, AARP Alabama Associate State Director for Communications & Bill Hawkins, AARP Alabama Associate State Director for Advocacy Outreach

The second Investor's University was held April 18, 2006, in Huntsville, Alabama at the Holiday Inn Research Park. Attendance at this seminar was also good. Topics discussed were predatory lending, reverse mortgages, home equity loans, investment fraud, and retirement and pension issues. One hundred sixty-five participants registered by phone the preceding day, with 103 in attendance. Of the 103 participants, 82 evaluations were returned. Data on this program revealed the following results:

• Most participants stated the University was very helpful because it enabled them to determine what they need to do to achieve financial security in retirement. Again, most of the participants reported that it is "very likely" or "somewhat likely" that they will make better financial decisions after attending the University.
• The majority of the participants were female, retired, and between the ages of 65 to 74; followed by the 55-64 age group. Based on results from both seminars, the Investor's University is improving the financial knowledge of Alabama residents.

Plans are being made to host the last Investor's University for urban populations in September 2006.

Dr. Bernice B. Wilson, Extension Resource Management Specialist, Chairman of State of Alabama Investor's Universities