N.Y. Bankruptcy Judge Praises CU Financial Literacy
A federal bankruptcy judge from Rochester, N.Y., who for years has spearheaded a consumer education program on financial literacy, lauded credit unions for taking a lead role in the literacy movement and singled out a new venture of the Credit Union Association of Colorado.
U.S. Judge John C. Ninfo II, who is founder and chairman of the volunteer-based CAREprogram on literacy, said in endorsing the Foolproof program of the Association of Colorado he in recent months has witnessed "some very encouraging" CU endeavors including those in his home state by CUs and their foundations.
"Perhaps now through these kind of activities, we can get more of the media and public's attention to the personal tragedies we see in our courts every day," said Ninfo who also singled out the work done by the Credit Union Association of New York and by Summit FCU of Rochester and its president/CEO Michael Vadala, former NAFCU chairman.
On Foolproof, Judge Ninfo said the interactive and video-primed literacy program of the Colorado trade group, appears one of the most effective in reaching vulnerable young people overextended on credit card debt. Foolproof, he said, was brought to his attention last April, and now the Foolproof logo and link appear on the CAREprogram Web site "as an important new tool" for the legal and education community to utilize.
On Sept. 9, the Foolproof program is due for an additional endorsement from the Consumer Federation of America and consumer advocate Remar Sutton during a national news briefing.