MADISON, Wis. (4/3/08)--April is Financial Literacy Month, and a number of credit unions and credit union leagues are spreading the message about the importance of consumers becoming financially savvy. Michigan Credit Union League President/CEO David Adams was interviewed by State Sen. Michelle McManus (R) on her monthly cable television show, “In Touch with Northern Michigan,” about credit unions and the need for financial literacy. Adams told the senator about the commitment Michigan credit unions have to financial literacy. They sponsor sessions in the community where people can learn basic financial skills, he said. Credit unions also are active in schools with student run branches. Credit unions in Michigan lead the nation in the number of classroom presentations given by volunteers in schools about finances, Adams added. To review a video of the interview, click on the photo.
Other financial literacy activities that are underway:
* The Ohio Credit Union League sent financial education curricula and marketing materials to 385 Ohio credit unions as part of the MoneyAndStuff initiative. The kits provide instructions on how to implement financial education in schools; * Pennsylvania Gov. Ed Rendell declared April Financial Education Month and acknowledged National Credit Union Youth Week April 20-26 (Life is a Highway April 1). The state’s Office of Financial Education also will create a new curriculum for use in libraries and other community settings to teach personal financial literacy; * The Washington State Department of Financial Institutions (DFI) and its financial literacy partners planned events throughout the month. DFI, Bellevue Community College, the Washington Society of CPAs and the Jump$tart Washington Coalition will offer college students financial education, using the National Endowment for Financial Education booklet, “Right on the Money,” and basic saving and investing principles. The group also will publish financial literacy inserts each week in the Seattle Times; * The Ohio Credit Union Foundation will fund a financial seminar for 300 high school students. Students from 12 school districts were invited to participate in the April 18 event. Local lawmakers, Junior Achievement, and Kent State University are involved in the event; and * SECU CU, Linthicum, Md., launched a Generation Y Advisory Board for young adults (Focus Newsletter March 31). The group will comprise youth trained in financial literacy to educate their peers and execute a community outreach product. The participants will provide advice to SECU on financial services for Gen Y and will help enhance the credit union’s young adult website, “The Buck Starts Here.”