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CU System
Maryland official supports fin lit graduation requirement
COLUMBIA, Md. (10/28/09)--Maryland Comptroller Peter Franchot announced his support for a standalone financial literacy course as a high school graduation requirement, a goal supported by the Maryland and District of Columbia Credit Union Association (MDCCUA). Franchot made the announcement at a Maryland Board of Public Works meeting on Oct. 21. The board consists of Gov. Martin O'Malley and state Treasurer Nancy Kopp, both of whom were present at the meeting, said MDDCCUA (Focus Newsletter Oct. 26). Franchot noted that the "principles of financial literacy are essential building blocks to a lifetime of economic security, and are every bit as vital to a good education as reading, writing and math. Financial literacy needs to be taught in our schools." Dr. Charlene Dukes of the Maryland State Board of Education (MSBE) updated the public works board on the progress of the State Task Force on Financial Literacy, especially MSBE's plan to develop a K-12 state curriculum for local use. MSBE hopes to present a draft curriculum to local school superintendents by December. MDDCUA has been active in its support for financial education, saying it believes financial education should be promoted within Maryland's schools. It is a member of the Maryland Coalition for Financial Literacy and its CEO, Mike Beall, is a member of the coalition's Executive Committee. Other credit union community members of the coalition include Rob Windsor, CEO, First Financial FCU; Richard Webb, CEO, Atlantic Financial FCU; Dorothea Stierhoff, senior public affairs specialist with MECU; and Kalimah Mathews, business development manager, Signal Financial FCU. The task force has created two subcommittees, both with credit union input. Chris Conway, MDDCCUA board member and CEO of Educational Systems FCU, is a member of the Advisory Committee, and Brian Tate, MDDCCUA vice president of legislative affairs, is a member of the Design Committee.
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