FROM THE OFFICE OF PUBLIC AFFAIRS

July 20, 2004
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Treasury Recognizes NCUA’s Commitment to Financial Education and Participates in the Access Across America Economic Empowerment Summit

Director of Outreach of the Treasury's Office of Financial Education, Sandra Pedroarias, participated in a financial education panel today as part of the Access Across America Economic Empowerment Summit, sponsored by the National Credit Union Administration (NCUA) in Milwaukee, Wisconsin. Pedroarias described existing federal financial education programs, discussed how credit unions can evaluate the effectiveness of these programs and how to develop techniques to measure the effectiveness of their own programs to better serve their members.

"Credit unions play an important role when it comes to offering consumers more choices for financial services and products," Pedroarias said. "It's commendable that so many continue to be committed to empowering their members by providing sources of information for financial education, and the tools to better help them manage their personal finances."

While in Milwaukee, Pedroarias met with representatives from the University of Wisconsin-Extension Department and other partners of "Get Checking," a financial education program that provides an introduction to banking and practical money management skills to those without a banking relationship. Pedroarias also toured the facilities of the Wisconsin Women's Business Initiative and learned about their financial education initiatives.

Access Across America was established to create economic empowerment and facilitate the extension of affordable financial services to individuals and communities across America. This initiative was founded on the principle that government should empower people toward their personal financial objectives. NCUA recognizes its role as a facilitator, which may enable people to enjoy the benefits of accessing low-cost financial services. The Summit's main goal is to provide credit unions with resources, technical assistance and economic development opportunities by developing partnerships with federal agencies.

The Department of the Treasury is a leader in promoting financial education.  Treasury established the Office of Financial Education in May of 2002. The Office works to promote access to the financial education tools that can help all Americans make wiser choices in all areas of personal financial management, with a special emphasis on saving, credit management, homeownership, and retirement planning.  The Office also coordinates the efforts of the Financial Literacy and Education Commission, a group chaired by the Secretary of Treasury and composed of representatives from 20 federal departments, agencies and commissions, which works to improve financial literacy and education for people throughout the United States.  For more information about the Office of Financial Education visit:  www.treas.gov/financialeducation.

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