Washington, DC (April 5, 2006) – This evening, Congressman Rubén Hinojosa (TX-15) was awarded the Federal Legislator Award, from the Jump$tart Coalition® for Personal Financial Literacy for outstanding leadership in personal finance education among members of Congress. The award recognizes those who have championed personal financial literacy for young people. One winner is selected from the House and one from the Senate.
“It is truly an honor for me to be recognized by Jump$tart for my work to bring attention financial literacy rates,” said Hinojosa. “So many efforts have been made to increase people’s knowledge about their personal finances, but much more clearly needs to be done. We need to start educating our children early on about what it means to save, to have a credit card, or how to obtain a loan. But, we also must educate adults about retirement planning, homeownership, and the ramifications of filing for bankruptcy. It may be daunting, but controlling your finances is something that we can all start today.”
Last February, Congressman Hinojosa joined Congresswoman Biggert (IL-13) to found the House Financial and Economic Literacy Caucus; they currently serve as the Caucus’ co-chairs. The Caucus seeks to address these issues head on by increasing public awareness of poor financial literacy rates and will work to improve those rates. The Caucus has provided a forum for members of Congress to promote policies that advance financial literacy and economic education.
“Every day, consumers deal with money – from balancing a checking account; to shopping for a mortgage or auto loan, researching ways to pay for a college education, or saving money for retirement,” said Hinojosa. “Unfortunately, so many consumers really don’t understand their finances. We’re diligently working in Congress to change that – so that one day ‘financial literacy’ is the rule, and not the exception.”
The Federal Legislator Award winners were nominated by Coalition partners nationwide and chosen by a special committee. Judging criteria included sponsoring and/or passing legislation to provide funding for financial literacy programs for K-12 schools; resolutions advocating youth personal finance; and public statements regarding the importance of youth financial literacy.
The Jump$tart Coalition for Personal Financial Literacy is a not-for-profit organization that seeks to improve the personal financial literacy of young adults.