Maine league testifies in support of fin. ed. bill

March 4, 2015

WESTBROOK, Maine (3/5/15)--The Maine Credit Union League re-emphasized credit unions' leadership role in youth financial education statewide during Monday's testimony before the Maine Legislature's Joint Committee on Education and Cultural Affairs.

Elise Baldacci, league director of governmental affairs, spoke in support of L.D. 417, An Act Regarding Measures to Ensure Students Can Demonstrate Proficiency in Financial Literacy.

The legislation directs the commissioner of education to develop methods to measure students' proficiency in financial literacy to help ensure they can demonstrate proficiency prior to graduation.

"For nearly two decades, long before financial literacy was fashionable or considered important, the Maine Credit Union League and a number of Maine's credit unions have had an active and leadership role in helping to build awareness and understanding about money management and personal finance with thousands of Maine children," Baldacci told the committee. 

"Since 2004, Maine's credit unions have coordinated more than 100 Financial Fitness Fairs for high school students across the state and, to date, nearly 25,000 Maine high school students have participated in one of these fairs," she added.

Baldacci thanked bill sponsor Rep. Matt Pouliot (R-Augusta) and other legislators for "their continued leadership and efforts on raising awareness and pursuing action on the important issue of financial education among high school students."