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News Now

CU System
Wisconsin regulators announce 250K for fin lit grants
MADISON, Wis. (4/2/12)--The Wisconsin Department of Financial Institutions (DFI) and Wisconsin Department of Public Instruction (DPI) have made $250,000 available to the state's K-12 public and private schools to promote financial literacy through a new program announced Friday--just in time for National Financial Literacy Month.

Schools can apply for up to $10,000 in funding to promote financial literacy through the program, a collaborative effort that includes DFI, DPI, Gov. Scott Walker's Council on Financial Literacy and the Wisconsin Women's Council.

The application deadline for grants is June 15. Award recipients will be notified by July 27. DPI is administrating the program.

The $250,000 financial commitment from DFI will come from settlement funds the department has received over the last couple of years, DFI Secretary Peter Bildsten said.

"Through our enforcement actions, DFI at times collects payments from entities that have wronged Wisconsin consumers," Bildsten said. "Some of those settlement funds are designated specifically for financial literacy efforts. What better way to invest these funds than in the personal financial knowledge of our young people."

The intent of the program is to support the efforts of individual teachers and school districts to begin new and sustainable programs and events. Teachers, schools or districts are eligible to apply for awards ranging from $500 to $10,000 and may submit proposals for each school level--elementary, middle and high school.

A subcommittee of the Governor's Council on Financial Literacy will review recommendations from DPI and select the final award recipients. All proposals must indicate how they support approved academic curriculum and integrate Wisconsin's Model Academic Standards on Personal Financial Literacy.

Credit unions and the Credit Union National Association (CUNA) are promoting financial literacy this month with the month-long National Youth Saving Challenge, held in conjunction with National Credit Union Youth Week. This year, National Credit Union Youth Week will be held April 22-28, with the theme "Be a Credit Union Super Saver."

News Now will report throughout the month on credit unions' financial literacy activities.


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