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Washington
CUNA backs Treas. core educational concepts
WASHINGTON (9/14/10)--The Credit Union National Association (CUNA) has come out in support of the U.S. Treasury Financial Literacy and Education Commission's proposed core financial literacy concepts, adding that the concepts the commission has proposed--earning, spending, saving, borrowing, and protecting against risk--are clear, concise, and thorough. The commission’s core concepts provide an excellent foundation “on which to structure financial education,” CUNA added. CUNA also thanked the commission for avoiding references to any specific type of financial institution in its developed financial education core competencies. In addition, CUNA recommended that the commission enhance the list of core concepts by adding information on debt reduction, credit scores, financial planning, and credit rating establishment, among other issues. Though classroom financial education is “crucial,” CUNA said that to create large-scale positive change, “financial education efforts must also focus on other aspects of an individual's daily life—such as education in the workplace.” For the full CUNA letter, use the resource link.


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