WASHINGTON― National Credit Union Administration (NCUA) Chairman Kyle Hauptman and two credit union CEOs participated in a financial literacy roundtable hosted by the U.S. Department of the Treasury and Office of the Comptroller of the Currency.
According to NCUA, the discussion brought together federal prudential regulators and financial institutions to share best practices, highlight successful programs, and identify opportunities to strengthen collaboration in support of financial education.
“Practically every major decision we make in life has a financial component. Yet many Americans never receive formal education on how to budget, save, invest, and plan for their futures,” Hauptman said in a statement. “President Trump understands the importance of early financial education and early access to financial opportunity, which is reflected…through his Trump Account program”. Chairman Hauptman went on to say that credit unions can help their members learn more about Trump Accounts to help young people as they begin their financial journeys.
Two CU CEOs Participate
Hauptman was joined by two credit unions that shared innovative approaches to advancing financial literacy and promoting Trump Accounts. Atomic Credit Union President and CEO Thomas Griffiths highlighted the credit union’s Student Run Credit Union Program, which operates in more than 100 schools across southern Ohio, providing students with hands-on instruction in budgeting, saving, credit, and fraud prevention.
Separately, SchoolsFirst Federal Credit Union CEO Bill Cheney discussed the credit union’s broad financial education efforts, including more than 1,000 school presentations in the past year, “Bite of Reality” simulations, and workshops and online resources that have reached more than 36,000 students and adults, the agency said.
Additional Discussion
According to NCUA, banks and credit unions discussed curriculum development, digital tools, gaming, and experiential learning programs, as well as strategies to broaden access to trusted financial guidance at critical stages of life.
