What is the Maryland Cooperative Extension Service?

The Maryland Cooperative Extension Service is a grass-roots educational organization operating on the local level throughout the state. Administrative offices are located at the University of Maryland, College Park and Eastern Shore. Cooperative Extension Offices are located in all twenty-three counties and the city of Baltimore.

The Maryland Cooperative Extension Service conveys practical information from the applied research of the Maryland Agricultural Experiment Station and other land-grant colleges to the people of Maryland. The program is funded by the United States Department of Agriculture, the state of Maryland, and county governments.

Why is the Maryland Cooperative Extension Service sponsoring Money 2000?

One of the three discipline areas of the Cooperative Extension Service's family and consumer science programs is the management of resources for improved family living. This includes enhancing family financial stability through the development of money management skills. Money 2000 fits closely with our organizational mission and is an expansion of educational programs we are already providing.

What is Money 2000?

Money 2000 is a program designed to increase the financial stability of Maryland citizens through increased saving and reduced household debt. Specifically, households in each of Maryland's 23 counties and the city of Baltimore will be encouraged to save, reduce debt, or a combination of both by at least $2000. When this objective is achieved, the dollar impact upon Maryland residents will be significant.

What activities take place?

Activities will vary from county to county and will include specially-developed seminars and presentations for work sites and community organizations. Certificates will be awarded to participants as they achieve their financial goals. A quarterly Money 2000 newsletter will be sent to participants. They can also access numerous low or no cost finance publications.

How will progress be monitored?

Participants will complete a registration form indicating their financial goal. They will also be asked to list their savings and debts at the point of entry into the program. This financial information is for participants to use as a "benchmark" against which to measure progress toward reaching their goal. It will not be reported to program sponsors, in order to alleviate concerns about confidentiality.

Every six months, participants will be contacted and asked to report the change in their amount of debt and savings. Data will be summarized by county and across the state to measure progress.

When can participants enroll?

Participants can enroll for as long as it takes to achieve the objective of saving and/or reducing debt by at least $2000. Participants who wish to continue in order to save or reduce debt by an even higher amount are free to do so, setting their own financial goals.

Is there a cost to participate in Money 2000?

There is a one-time $10 enrollment fee. In addition, some (optional) seminars or publications may require a small fee.

Where can I get further information about Money 2000?

Contact the Cooperative Extension Service office closest to you. For addresses and phone number, click here.