Pressroom > News Release:
Educators alerted to free resource for mandate
Contact: Patrick Harris
Director of Media Relations
Ohio Credit Union League
Nearing Mandate Deadline, Credit Unions Reach Out to Ohio Schools
Awareness of free financial education resource sent statewide
Dublin, Ohio (August 6, 2008) –
More than 800
letters were sent by the Ohio Credit Union League to guidance
counselors throughout Ohio to remind them of an impending
financial education mandate and introduce them to the free Web
www.MoneyAndStuff.info. In 2006, the Ohio General Assembly
passed legislation requiring all public high schools include
financial education in their curricula by 2010. With that
deadline approaching, and as the 2008/2009 school year nears,
credit unions are working with schools to help them meet the
mandate’s requirement and provide much needed financial education
basics to their students.
A 2007 study by
the League found that only five percent of Ohio adults were taught
personal finance while they were young and only 23 percent noted
any efforts to encourage financial literacy in their families.
This leaves most Ohio children and young adults to learn important
lessons such as differing wants from needs, the difference between
debit and credit cards, and budgeting, on their own.
Consequently, students are leaving college with an average of
$20,000 in debt and without the knowledge of how to alter their
spending habits to accommodate repaying debt.
financial habits are developed at a young age and credit unions
are providing schools with a free resource to help young people
develop these habits,” said Paul Mercer, League President.
“Financial literacy among our youth is a necessity. Credit unions
are arming our educators with proven lesson plans so they can
share this knowledge with students now, more than one year before
the mandate deadline.”
financial education lesson plans and curricula posted at
MoneyAndStuff.info were developed by respected national
organizations. High school lessons from the National Endowment for
Financial Education, curricula for all ages provided by Junior
Achievement, and Thrive by Five, which prepares pre-kindergartners
for their first monetary interactions. Lesson plans are sorted by
age group, with topics ranging from basic money concepts to how to
make your money work through saving and investing.
more than 350 credit unions were sent MoneyAndStuff “toolkits” in
early 2008 to prepare them for partnerships with area schools.
While many credit unions in Ohio already work with their local
school districts to teach financial education, MoneyAndStuff is
the most comprehensive and cooperative program among the state’s
not-for-profit financial institutions. The Web portal was created
to fulfill a growing need for youth financial literacy and to help
Ohio schools meet the financial education mandate.
Laura Busque, a
former educator who now works as the League’s Outreach Manager,
spearheaded the outreach to Ohio schools. In her letter, Busque
underscored the importance of partnerships between public and
private entities. “I know that partnerships between school
districts and local businesses have a positive impact on America’s
youth. Together, credit unions and educators can propel young
people to a promising financial future."
The Ohio Credit
Union League, with offices in Dublin, is a state trade association
representing 438 credit unions. Credit unions are not-for-profit
financial institutions owned and democratically controlled by
their members. Ohio credit unions provide savings, loans, and
other consumer financial services to their 2.6 million members. To
learn more, visit