Letter to Rep. Akaka Supporting S. Res 88
April 7, 2005
The Honorable Daniel Akaka
141 Hart Office Building
Washington, DC 20510
Dear Senator Akaka,
On behalf of the Credit Union National Association (CUNA), which represents nearly 85 million credit union members, I would like to thank you for your introduction of S. Res. 88, which designates April 2005 as Financial Literacy for Youth Month.
S. Res. 88 calls on our nation's citizens, schools, nonprofit organizations, businesses, and the federal, state, and local governments to observe the month of April with appropriate programs and activities.
To aid in this endeavor, CUNA has established April 17th - 23rd as National Credit Union Youth Week, and provides financial literacy resources to credit unions year-round to assist young people and help them manage their own money wisely. You will also be pleased to know that several credit unions in Hawaii, including Hawaii USA Federal Credit Union and Hawaii State Federal Credit Union, are working with schools to bring greater financial literacy skills to students. Other credit unions in Hawaii are working with federal grant money to assist adult financial literacy, as well as working with the homeless and unemployed to teach the benefits of checking accounts.
Additionally, CUNA has partnered with the National Endowment for Financial Education (NEFE) and the Cooperative Extension Service to provide schools with free workbooks on financial literacy that can easily fit into an existing curriculum. Many credit unions have volunteered their time to teach the materials to better prepare students for college, covering issues such as credit cards, interest, minimum payments, and checking accounts.
Again, CUNA and its member credit unions strongly support S. Res. 88 and appreciate your efforts to bring financial literacy to students nationwide.
Daniel A. Mica
President & CEO
Credit Union National Association