Press

The Honorable Jack Reed
728 Hart Senate Office Building
United States Senate
Washington, DC 20510Dear Senator Reed:

On behalf of the Credit Union National Association (CUNA), I wanted to offer my thanks for your leadership of S.Res.427, designating April 2016 as “Financial Literacy Month.” CUNA represents America’s state and federal credit unions and their more than 100 million members.  As you know, credit unions are dedicated to improving the financial literacy of their members, and empowering them to take control of their financial well-being in times, both good and bad.

Credit unions were established to help the members and communities they serve.  Their non-profit, member-owned, cooperative structure puts them on the front lines of financial empowerment at all stages of life. Credit unions invest heavily in financial education, and have conducted thousands of educational sessions, from educating students in the classroom to adults at the local credit union branch.  Credit unions are often embedded in high schools and universities, offering a full spectrum of financial resources and tools for young people just starting their financial lives. Many credit unions have one or more certified financial counselors on staff, and credit unions have provided millions of Americans with formal and informal financial counseling. When it comes to financial capability, credit unions truly are a smarter choice for American families to obtain the financial knowledge and tools necessary to succeed.

In addition to credit unions’ efforts to improve the financial literacy of their members, the non-profit National Credit Union Foundation (the Foundation) provides a wealth of resources and grant funds for financial education, including the Emmy-Award winning public television program Biz Kid$, experiential learning programs for all ages, as well as a variety of toolkits for credit unions addressing challenging topics like medical debt and alternatives to payday lending. The Foundation has also partnered with best-selling personal financial author Jean Chatzky to distribute over 125,000 copies of “Money Rules,” a succinct and handy guide to personal finance decisions, from career choices to investment and retirement choices. The Foundation’s efforts compliment and reinforce credit unions’ to expand and enhance financial literacy for millions of American families.

Once again, thank you for all of your attention to the critically important need to promote financial literacy. I look forward to working with you to ensure that Americans of all ages and of all walks of life have the resources they need to make wise financial decisions that will help them and their families achieve the American dream.

Sincerely,

Jim Nussle
President & CEO