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CU System
Oregon association testifies for financial education
BEAVERTON, Ore. (4/22/09)--Two bills related to financial literacy were heard simultaneously in the Oregon Capitol during the week of April 13. The Credit Union Association of Oregon (CUAO), along with Carlyn Roy, executive vice president and chief operating officer of OSU FCU, Corvallis, provided testimony in support of the legislation. The bills--Senate Bill 441 and Senate Bill 501--were up for a hearing in the Oregon Senate Education Committee. In March, CUAO and Roy provided testimony in support of SB 501 which would add “finances” to essential learning skills and requires school district to provide curriculum in finances. During the hearing, concerns were raised by the Department of Education and the school lobby. State Sen. Rick Metsger (D-26) introduced an amendment to SB 441 which would basically eliminate the bill, and create a new one with new language. The new bill would define “finances” to mean “curriculum designed to achieve financial literacy and to give students personal financial management skills by teaching the basic principles involved with earning, spending, savings and investing money.” The amendments would require that of the three credits of social sciences needed to obtain an Oregon high school diploma, one-half credit would be in “finances.” In essence, the amendments would add financial education requirements back into the high school diploma requirements. “We support Senator Metsger’s efforts to push Financial Education, and we were pleased to provide testimony during the hearing in support of his amendment to SB441,” said Pamela Leavitt, CUAO senior vice president of governmental affairs and public relations.
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