DUBLIN, Ohio -- Forget just a week, Ohio credit unions are recognizing April as Financial Literacy Month and reminding parents and educators about the importance of teaching financial education at home and in the classroom.
In 2006, the Ohio General Assembly created a mandate requiring financial education in all Ohio high schools by 2010. However, recognizing the immediate need for financial education, the Ohio Credit Union League is arming parents and teachers with educational tools through its MoneyAndStuff initiative.
Hundreds of bright orange toolkits containing financial education curricula and marketing materials were recently shipped by the league to Ohio credit unions as part of the MoneyAndStuff initiative. The MoneyAndStuff toolkit provides 385 credit unions in Ohio with instructions and resources for implementing financial education in their local schools and contains detailed information about how to promote the free financial education materials created on the www.MoneyAndStuff.info Web site to educators and parents.
"As financial experts in the community, credit unions have always believed that teaching financial education is part of their responsibility," said OCUL President Paul Mercer. "These kits arm Ohio credit unions with the necessary tools to reach out to the future generation of consumers and ensure they understand their personal finances."
According to a survey of Ohio adults, commissioned by the league, 23% of Ohioans make an effort to encourage financial literacy in their families and only 5% were taught about personal finance when they were young. In addition, the Jump$tart Coalition for Personal Financial Education reported that the national average financial literacy skills score for 12th graders was 52.4%, with only 6.9% of students receiving a "C" grade or better.
So far, MoneyAndStuff has been introduced at press conferences in seven Ohio cities: Cleveland, Kent, Youngstown, Lima, Toledo, Hamilton and Cincinnati. Additional media events are being planned for Dayton and Columbus.