At the same time, HLPR is being refined, he said adding "we're looking to develop a fixed-rate version." Nonetheless, HLPR remains a "great illustration of our commitment to people of modest means." In reaching young people, CUs, he said are "well positioned to take the lead on financial education" maintaining "we could be and should be the number one source of personal finance information in this country." In his Portland speech, Valdov stressed the severity of the financial literacy problem noting that 56% of parents believe their high school graduates are "totally unprepared" to manage their personal finances. Moreover, more than 50% of high school seniors who take Jumpstart's annual financial literacy test get a failing grade and statistics show that anywhere between 25-56 million adults are "unbanked."

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