Financial literacy is essential for all consumers and CUNA proudly supports resolutions from Rep. Joyce Beatty (D-Ohio) in the House and Sens. Jack Reed (D-R.I.) and Tim Scott (R-S.C.) in the Senate to recognize Financial Literacy Month. Beatty is the chair of the House Financial Services subcommittee on diversity and inclusion.

“America’s credit unions offer financial education to both young and older Americans; lend in the safest and most affordable way - including to those facing financial struggles - with small dollar, automobile, and mortgage loan products; provide zero interest loans for Federal workers impacted by government shutdowns; provide disaster relief support and counseling; and arrange solutions for those facing debt or other financial burdens.”

The resolutions recognize the need for financial literacy as a way to empower individuals and increase economic activity and growth while calling on consumers and organizations to “observe Financial Literacy Month with appropriate programs and activities.”

CUNA’s letters also highlights the work of the National Credit Union Foundation, particularly its Financial Reality Fairs, which allow high school students to experience some of the financial challenges they will face when they start life on their own. In 2016 alone, more than 85,000 students participated in a credit union Reality Fair.

Beatty is a strong supporter of credit unions and financial literacy. She is a co-sponsor of Financial Literacy Day on Capitol Hill, and has visited the CUNA-National Credit Union Foundation booth at the event each year. Reed has offered the resolution in the Senate in previous years, and Scott is a strong credit union supporter, having supported regulatory relief for credit unions.