Maine CUs Reiterate Commitment To Youth Financial Education With Support For Financial Education Bill

March 3, 2015

In testimony before the Maine Legislature's Joint Committee on Education and Cultural Affairs, the Maine Credit Union League reiterated its "strong leadership on youth financial education in Maine, and its support and work for doing even more to help Maine children become successful, financially-savvy adults."  Legislators were enthusiastic in their praise for "the work of Maine's credit unions in this area."

Testifying on behalf of the League at a public hearing on the bill in Augusta on Monday, March 2, Elise Baldacci, the Director of Governmental Affairs for the League, spoke in support of L.D. 417 - An Act Regarding Measures To Ensure Students Can Demonstrate Proficiency in Financial Literacy.  Baldacci told the Committee, "For nearly two decades, long before financial literacy was fashionable or considered important, the Maine Credit Union League and a number of Maine's credit unions have had an active and leadership role in helping to build awareness and understanding about money management and personal finance with thousands of Maine children.  Since 2004, Maine's credit unions have coordinated more than 100 Financial Fitness Fairs for high school students across the State and, to date, nearly 25,000 Maine high school students have participated in one of these fairs."

Baldacci thanked Rep. Matt Pouliot, the bill's sponsor, and other legislators for "their continued leadership and efforts on raising awareness and pursuing action on the important issue of financial education among high school students. We also would like to acknowledge that there are many organizations and educators doing some great initiatives and work in this area but there is much work that remains to be done."