WASHINGTON–Representatives Ruben Hinojosa (D-Texas), and Judy Biggert (R-Ill.) have introduced a resolution encouraging governments and businesses to do more to foster financial literacy.

The measure, which has 41 cosponsors, urges President George W. Bush to issue a proclamation urging activities that will teach people about the importance of money management and to save more money. April is Financial Literacy Month and this week is National Credit Union Youth Week.

CUNA is sponsoring National Youth Savings Challenge to motivate young people to establish savings accounts at credit unions. During a similar challenge last year, credit unions reported youth deposits of more than $10.1 million.

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