FROM THE OFFICE OF PUBLIC AFFAIRS

To view or print the PDF content on this page, download the free Adobe® Acrobat® Reader®.

October 14, 2004
js-2067

Treasury Deputy Assistant Secretary Iannicola Leads Adult Financial Literacy Roundtable in Portland, Maine

Treasury's Deputy Assistant Secretary for Financial Education, Dan Iannicola, Jr. today led an adult financial literacy roundtable hosted by the Institute for Financial Literacy.  Iannicola discussed the special challenges in reaching adult populations and how the federal government might help.

Roundtable participants shared information about their own efforts to target adults with financial education.  In response, Iannicola praised their ongoing commitment to help improve the financial knowledge of adults throughout Maine. 

"You're never too old to benefit from financial education," said Iannicola.  "Adults need financial knowledge to finance cars and homes, plan for retirement, care for relatives and pay for education. The strong grassroots network of non-profits and financial institutions here in Maine understand the need for adult financial education and are making good progress toward meeting it."

Iannicola also told the group about two new federal resources. The first is the www.mymoney Web site and the 1-888-mymoney toll-free hotline which provide access to federal financial education materials.  The second resource is the Technical Assistance Center provided by the Treasury's Office of Financial Education, where organizations interested in financial education can receive input on program design, explore partnerships with other organizations and learn about best practices.  Finally, Iannicola discussed Treasury's recent request for input on the development of a national strategy for financial education.  The request for comment was published in the Federal Register and can be viewed at: http://a257.g.akamaitech.net/7/257/2422/06jun20041800/edocket.access.gpo.gov/2004/pdf/04-19527.pdf . The deadline for submissions is October 31, 2004.

Founded in 2002, the Institute for Financial Literacy is a non-profit organization focusing on helping improve people's understanding of their own personal finances.  The organization works in partnership with other non-profit organizations across Maine to integrate financial literacy education into their current delivery of services.

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: www.treas.gov/financialeducation.

-30-