CUNA sent a letter of thanks to Sen. Jack Reed (D-R.I.) for leading a Senate resolution designating April as Financial Literacy Month.
Nearly 30 senators lent their name to Senate Resolution 427, which aims to raise public awareness about the importance of personal financial education in the United States.
“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,” wrote CUNA President/CEO Jim Nussle. “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.”
He also cited the extensive work of the National Credit Union Foundation and how its efforts compliment and reinforce credit unions’ work to expand and enhance financial literacy for millions of American families.
“When it comes to financial capability, credit unions truly are a smarter choice for American families to obtain the financial knowledge and tools necessary to succeed,” he wrote.
Senate Resolution 427 addresses the serious consequences that may result from a lack of understanding about personal finances; and calls on the federal government, states, localities, schools, nonprofit organizations, businesses, and the people of the United States to observe Financial Literacy Month with appropriate programs and activities.