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CU System
Maine league testifies on youth fin lit before lawmakers
PORTLAND, Maine (2/28/11)--Maine credit unions’ and the Maine Credit Union League’s efforts in coordinating and growing Financial Fitness-Money Management Experience Fairs received an enthusiastic response from members of the Maine Legislature’s Education Committee during a recent hearing, the league said. Testifying in support of L.D. 184--bill that would promote the financial literacy of high school students--Quincy Hentzel, league director of governmental affairs, highlighted the leadership role that Maine’s credit unions have taken to build and promote money management skills to Maine students (Weekly Update Feb. 25). Members of the Education Committee said they were impressed by the efforts of Maine’s credit unions and the innovative approach to exposing more students to money management skills, the league said. The league also distributed a one-page flyer highlighting and explaining the resources and initiatives Maine’s credit unions have available to partner with schools on financial education. On Wednesday, the committee voted 10-3 to Ought To Pass a bill that requires the Maine Department of Education to pull together information on all financial literacy programs available to schools and disseminate that information annually to all schools in the state. The programs offered by credit unions would be part of that listing. Also, during the league’s testimony to the Education Committee on the Financial Literacy bill, the committee expressed interest in an online education program that contains modules to help students and young adults learn about money management and personal finance. “The committee really loved [the program] and the fact that credit unions are offering this program at no cost to schools and to members,” Hentzel said. “Everyone realizes how important financial literacy is, and credit unions are clearly at the forefront of this issue and the committee recognized it,” Hentzel said.
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