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News Now

Washington
CU literacy program noted at presidents council
WASHINGTON (2/14/2008)--President George W. Bush’s Advisory Council on Financial Literacy held its inaugural meeting yesterday in Washington, D.C., with the Credit Union National Association’s (CUNA) financial education partner seated at the table. During the first meeting, council members introduced themselves, proposed financial literacy initiatives and established subcommittees.
Click to view larger image CUNA Regulatory Attorney Luke Martone (left) and National Endowment for Financial Education (NEFE) President/CEO Ted Beck in the Treasury's Cash Room before the start of yesterday's inaugural meeting of the President's Advisory Council on Financial Literacy. CUNA and NEFE have a partnership for the High School Financial Planning Program. (Photo provided by CUNA)
Ted Beck, CEO of the National Endowment for Financial Education (NEFE)—CUNA’s eight-year partner in financial literacy efforts--serves on the panel. Cutler Dawson, president/CEO of Navy Federal CU in Merrifield, Va., also is a member. Beck told the council that NEFE’s High School Financial Planning Program (HSFPP) has reached more than 800,000 high school students. He also noted that NEFE’s efforts to create a pilot program for college students. “Financial literacy is a continuous process,” said Beck. U.S. Rep. Judy Biggert (R-Ill.), who formed the Financial and Economic Literacy Caucus in 2005, provided opening remarks and acknowledged NEFE’s Beck. CUNA partnered with NEFE in 2000. Under the partnership, CUNA encourages credit unions to have their local schools offer HSFPP, which is a free financial education resource for high school students. The student guides carry the America's Credit Unions brand. As part of the literacy council’s organization agenda, five subcommittees will address:
* Financial Literacy for Youth; * Workplace Financial Education; * Financial Access for Underserved; * Research on State of Financial Literacy in the U.S.; and * Outreach.
The 19-member council’s mission is to focus exclusively on economic empowerment issues. It operates under the guidance of the U.S. Treasury Department with the specific charge of "keeping America competitive and assisting citizens in understanding and addressing financial matters." Charles R. Schwab, chairman/CEO of the Charles Schwab Corp., serves as the council's chairman. Operation HOPE Founder, Chairman/CEO John Hope Bryant is vice-chairman. The council’s next meeting is scheduled for June 18.


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