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NCUAs Matz regulators join to back student fin. lit.
ALEXANDRIA, Va. (11/16/10)--The National Credit Union Administration (NCUA) on Monday officially joined the U.S. Department of Education and the Federal Deposit Insurance Corp. (FDIC) to “facilitate partnerships among schools, financial institutions, federal grantees and other stakeholders to provide effective financial education; increase access to safe, affordable and appropriate accounts at federally insured banks and credit unions, and encourage saving.” NCUA Chairman Debbie Matz joined Department of Education head Arne Duncan and FDIC Chairman Sheila Bair in a Monday event at Alexandria, Va.’s T.C. Williams High School. The regulators toured a student-run credit union met with students from T.C. Williams’ Academy of Finance, as well as other students, educators and parents. Matz said that there is “no better place” for students to learn about financial concepts “than from their teachers at school, and no better partner to provide subject matter expertise for schools than financial institutions. “In many underserved communities, studies show that parents learn about finances from their children, so youth financial education can benefit adults as well,” Matz added. The agency heads also signed an agreement that will lend the support of the NCUA and the FDIC to a Department of Education low-income college access program. Under the agreement, the agencies will also “work together to increase participation in the National Financial Capability Challenge, a voluntary awards program designed to challenge educators to teach high school students the basics of personal finance, and reward success.” For the full release, use the resource link.
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