April 28, 2005
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Treasury's Deputy Assistant Secretary Iannicola Encourages Financial Education Efforts in Native Communities

Treasury's Deputy Assistant Secretary for Financial Education Dan Iannicola, Jr. today discussed the importance of financial education at a policy briefing sponsored by the Native Financial Education Coalition in Washington, D.C.  The meeting attendees included Congressional staff, federal agency personnel, tribal leaders and other policymakers.

Iannicola told the participants that spreading financial education in Native communities should be a high priority.  "Native communities often deal with unique challenges, both in the reservation and off-reservation contexts," said Iannicola.  "Financial education can help people overcome these challenges and achieve a secure financial future."

The Native Financial Education Coalition (NFEC) is a group of local, regional and national organizations and government agencies working together to promote financial education in Native communities. Started by the Treasury Department in 2000, the now independent Native Financial Education Coalition seeks to exchange information, forge partnerships, identify and develop strategies for outreach and training, as well as identify gaps in information about financial education needs.  NFEC has trained nearly 800 instructors to teach financial education courses in Native communities using the Building Native Communities: Financial Skills for Families curriculum.

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, home ownership 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: http://www.treas.gov/financialeducation.

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