Oregon Credit Unions Help To Bring Real World Education To Classrooms With New Financial Literacy Bill (Photo) -02/16/23
Oregon Credit Unions Help to Bring Real World Education to Classrooms in New Financial Literacy Bill.
The bill introduces financial and life skills to high school curriculums, giving youth the knowledge to jumpstart their future.
Tigard, Oregon (February 16, 2023) GoWest Credit Union Association, in partnership with Oregon Senate President Rob Wagner and Senate Republican leader Tim Knopp worked to introduce an innovative life skills bill, Senate Bill 3. This bill will add one future planning credit to the state's high school curriculum and help students apply crucial financial empowerment standards to their future.
In 2022, credit unions in Oregon provided free financial education to 17,000 children and 25,285 adults. Financial education has long been a cornerstone of credit unions' services to help members build brighter financial futures.
"Our kids are our future, and it is our responsibility to ensure they have the financial literacy skills that lead them to economic security,” said Oregon Senate President Rob Wagner.
"We have an obligation to empower our community to thrive," said Senate Republican Leader Tim Knopp. "Ensuring our kids have the future planning skills and financial literacy to succeed once they become adults is a critical step in financial wellness and supports the economy's overall health."
Critical life skills introduced in the bill’s future planning class initiative include guidance on:
- Applying for jobs, preparing a resume, or filling out a job application and developing job interview skills. Applying for admission to a post-secondary institution of education, including applying for financial aid and scholarships.
- Applying financial literacy standards, including filing income tax returns, creating a budget, understanding bank and credit card statements, and planning for retirement.
- Developing career-related skills, including improving employability skills, taking advantage of community-based experiential learning and gaining knowledge of career opportunities; and
- Seeking assistance, including accessing community resources and acting as a self-advocate for mental, physical, and financial well-being.
“When our credit union partners in Oregon came to us with their list of legislative priorities for the year, it was not surprising that financial education rose to the top,” said Pam Leavitt, Vice President of Regional Grassroots and Political Programs/Legislative Affairs, GoWest Credit Union Association. “The essence of the credit union movement is financial literacy. You can see their commitment through action. Collectively, Oregon Credit Unions provided free financial education to 17,000 children.”
There are currently 15 states that guarantee their high school schoolers will take at least one personal finances course. “We are confident that this bill will become law and Oregon will be the 16th state,” said Leavitt.
This model legislation was introduced with bipartisan support by Senate President Rob Wagner (D-Lake Oswego) and Senate Republican Leader Tim Knopp (R-Bend).
About GoWest Credit Union Association
GoWest Credit Union Association is the trade association representing credit unions in Arizona, Colorado, Idaho, Oregon, Washington, and Wyoming. GoWest advocates on behalf of more than 300 member credit unions, and their 16.5 million consumer members. The region’s not-for-profit cooperative credit unions take a bold, innovative, and forward-thinking approach to improving the lives of their members and enriching their communities. More information about joining a credit union can be found at: yourmoneyfurther.com Follow GoWest Credit Union Association on LinkedIn at LinkedIn.com/GoWestCreditUnionAssociation, Facebook at Facebook.com/GoWestCUA, and Twitter at Twitter.com/GoWestCUA for the latest updates on the regional Credit Union Movement
