Letters to Congress

Letters to Reps. Knollenberg and Olver Requesting Funding of the National Financial Literacy Public Service Multi-Media Campaign

April 7, 2005

The Honorable Joe Knollenberg
Chairman, House Transportation,
Treasury and Housing Subcommittee
2358 Rayburn House Office Building
Washington, DC 20515

Dear Chairman Knollenberg,

On behalf of the Credit Union National Association (CUNA), which represents nearly 86 million credit union members, I would like to request your consideration to include $3 million in the FY2006 Transportation, Treasury and Housing Appropriations bill to fund the national financial literacy public service multi-media campaign that was authorized by the Fair and Accurate Credit Transactions Act, P.L. 108-159.

CUNA and its member credit unions applaud Congress’ effort to create an interagency Committee, headed by the Secretary of Treasury, to promote financial literacy education through the coordination of federal, state and local governments, as well as non-profit organizations and private enterprises. Financial literacy is an important tool for both students and adults of all ages, incomes and backgrounds. Ensuring individuals have proper financial skills will lead to financially stable families and communities, helping to achieve the American dreams of college, homeownership and retirement security.

Credit unions have sought to promote financial literacy at the root of our communities— our nation’s schools. To aid in this endeavor, CUNA has partnered with the National Endowment for Financial Education (NEFE) and the Cooperative Extension Service to provide schools with free workbooks on financial literacy that can easily fit into an existing curriculum. Many credit unions have volunteered their time to teach the materials to better prepare students for college, covering issues such as credit cards, interest, minimum payments, and checking accounts. Oftentimes, the financial tools that youth learn are shared with parents and other family members. And, many credit unions also are providing similar training to adults in their communities.

Again, CUNA and its member credit unions request your support of $3 million in the Treasury, Transportation and Housing Appropriations bill to fund the national financial literacy public service multi-media campaign to help bring financial literacy to all Americans.

Sincerely,

Daniel A. Mica
President & CEO
Credit Union National Association

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