Letter to Rep. Judy Biggert regarding the CENTS Act
September 22, 2003
The Honorable David Scott
417 Cannon House Office Building
Washington, DC 20515
Dear Congressman Scott,
On behalf of the Credit Union National Association (CUNA), which represents more than 90 percent of our nation's more than 10,000 state and federal credit unions and 83 million credit union members, I would like to thank you for your introduction of H.R. 2990, the Commission to Educate our Nation's Teachers and Students on Financial Literacy Skills (CENTS) Act.
CUNA and its member credit unions applaud your efforts to create a commission that will integrate economic and personal finance education for school children of all ages. Helping our nation's youth acquire valuable financial management skills early in life will better prepare students to make sound decisions that impact their financial well being into the future.
To aid in this endeavor, 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. Oftentimes, the financial tools that youth learn are shared with parents and other family members. And, many credit unions also are providing similar training to adults in their communities.
Again, CUNA and its member credit unions strongly support the CENTS ACT, H.R. 2990, and appreciate your efforts to bring financial literacy to students of all ages nationwide.
Daniel A. Mica
President & CEO