Removing Barriers Blog

CUNA Thanks Senator Jack Reed for Financial Literacy Efforts
Posted April 25, 2016 by CUNA Advocacy

Today we sent a letter to Senator Jack Reed (D-RI) to offer our thanks for his leadership of S.Res.427, which designated April 2016 as “Financial Literacy Month.” Senator Reed also delivered remarks at a financial literacy event on Capitol Hill this month, which was also attended by several credit union representatives. Since credit unions are unique among the financial services industry in their focus on financial literacy, we sent Senator Reed a letter thanking him for his advocacy on this issue, and to express our desire to continue to work with him on it. 

Our letter highlighted credit unions' dedication to the financial empowerment of their members by explaining how credit unions invest heavily in financial education, and have conducted thousands of educational sessions, from educating students in the classroom to adults at the local credit union branch.  Many credit unions have one or more certified financial counselors on staff, and credit unions have provided millions of Americans with formal and informal financial counseling.  

In addition to describing credit unions' direct efforts to improve the financial literacy of their members, our letter remarked that the non-profit National Credit Union Foundation also provides a wealth of resources and grant funds for financial education, including the Emmy-Award winning public television program Biz Kid$, several experiential learning programs for all ages, as well as a variety of toolkits for credit unions addressing challenging topics like medical debt and alternatives to payday lending. Combined with the daily work of credit unions, the Foundation’s efforts enhance financial literacy for millions of American families.