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CU System
Md. Board of Education accepts fin lit recommendation
ANNAPOLIS, Md. (2/3/09)--The Maryland State Board of Education (MSBE) voted to accept the recommendations of the State Task Force on Financial Literacy and begin to implement financial literacy instruction within the voluntary curriculum. Bert Hash, CEO of MECU, Baltimore, and a Maryland and District of Columbia Credit Union Association (MDDCCUA) board member, and Thom Beck, CEO of MCT FCU, Rockville, serve on the task force (Focus Newsletter Feb. 2). Members of the task force petitioned MSBE Jan. 27 to adopt its recommendations and implement some form of financial literacy education within the voluntary statewide curriculum. State Delegate Dana Stein (D-11), Delegate Susan Krebs (R-9B), and State Sen. Katherine Klausmeier (D-8), spoke on behalf of the task force during the hearing, and answered questions from the state board. Krebs stressed how important the subject is, pointing out that “students need to be educated on such basic issues as what goes into a credit score.” Stein reiterated how the past year’s negative economic effects have created a “broad coalition of support for financial literacy” within the Maryland General Assembly. Klausmeier also urged the board to support the task force’s recommendations, stating that it will be difficult to implement financial literacy within Maryland’s schools “without the help of the board of education.” Stein, Krebs and Klausmeier were able to assuage the concerns of the board by pointing to non-profit programs currently in place that, at a minimal cost, could be used to both help train teachers in financial literacy instruction and implement financial literacy courses in schools, said MDDCCUA. It is expected that MSBE will reply to the task force recommendations by March 1.
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