Virginia Banks and VBA Show Strong Support of Statewide Financial Literacy Month
In 2000, the Jump$tart Coalition for Personal Financial Literacy began promoting April as Financial Literacy Month. In 2003, April was declared as Financial Literacy Month for the first time by the U.S. Senate and Financial Literacy Day on the Hill was founded. The goal of Financial Literacy Month is to highlight the importance of financial literacy as an essential life skill.
Bankers’ and the VBA’s main focus this month is Teach Children to Save Day (TCTSD). Now in its 21st year, the TCTSD program has reached 9.1 million young people through the commitment of more than 225,000 banker volunteers. Last year, 300 Virginia bankers made presentations and reached 11,200 students across the Commonwealth. Click here to read more about that program and other financial literacy efforts of Virginia bankers, throughout the month of April and all year long.
For decades, financial literacy has been a strong year-round area of focus for Virginia banks and the strong advocacy on the part of the industry helped Virginia become one of only 20 states in the nation to require a course in economics for all high schoolers, and one of only 17 states to require a course in personal finance.
The programs mentioned in this press release, in addition to the required course, have helped with Virginia’s recognition as one of five states to receive an “A” in the Champlain College Center for Financial Literacy’s 2017 National Report Card on State Efforts to Improve Financial Literacy in High Schools. See the article "Financial Literacy Requirements Linked to Better Youth Credit Outcomes" in the eNewsletter to read more about this important effort.
If you are interested in learning more about Financial Literacy Month, Teach Children to Save Day, the required course in personal finance and economics, or any of the other programs you can connect with through the VBA, please reach out to Monica McDearmon, VBA communications and financial literacy coordinator.