The credit unions of Rhode Island espouse a business model governed by a set of values and principles that distinguishes them from all other financial services providers. Among those principles are education and training.
For credit unions, that education and training focuses on a person’s overall financial knowledge in managing one’s finances. Many credit unions throughout Rhode Island, including Westerly Community Credit Union, sponsor financial literacy programs in local schools, as well as for the community in general. While that is a start, there is more to be done. We believe that the more knowledgeable and informed a person is, the more successful that person will be in budgeting and saving money.
Given our commitment to education, the credit unions of Rhode Island applaud General Treasurer Seth Magaziner and support his call to mandate financial literacy education in all high schools throughout our state. Every Rhode Islander deserves the opportunity to achieve financial security, and there’s no better place to begin a lifelong educational process in financial literacy than in our local high school classrooms.
Thirty-six states guarantee access to personal financial education in their public-school curriculum. We join Treasurer Magaziner in the effort to make Rhode Island the 37th state.
By supporting and passing financial literacy legislation today, through “An Act Relating to Education — Financial Literacy: Securing the Financial Future for All Students,” we’ll pave the way to a more secure and brighter future for all Rhode Islanders.
The writer is the president and CEO of Westerly Community Credit Union.