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FROM THE OFFICE OF PUBLIC AFFAIRS
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Treasury Assistant Secretary for Financial Institutions Wayne Abernathy today taught Young AmeriTowne summer camp students about the role the Department of the Treasury plays in free enterprise and commerce. The Young AmeriTowne summer camp in Denver offers 10 to 12 year-old students a unique hands-on experience through lessons in free enterprise. The summer camp introduces them to basic economic principles by allowing the campers to run their own town. While at the camp, Assistant Secretary Abernathy also presented Treasury's John Sherman Award for Excellence in Financial Education to the Young Americans Center for Financial Education, which houses the Young AmeriTowne and other nonprofit programs.
Helping students understand how their government works and operates within a free enterprise and commerce system, is as important as teaching them about good personal finance skills. said Abernathy. Those lessons can be more beneficial and have greater impact if students are exposed to them at an early age, and also reinforced through hands-on, real life experiences offered through financial education programs like the Young AmeriTowne summer camp.
The Young AmeriTowne summer camp program is one of several financial education programs available through the Young Americans Center for Financial Education. Young Americans Center for Financial Education is a nonprofit organization dedicated to furthering the financial and economic education of young people, 21 and under. Participants learn personal finance skills through the center's innovative programs and services. These programs focus on teaching skills such as money management, financial decision-making, work force readiness, social development, civic awareness, work ethics and financial self-sufficiency.
While at the summer camp in Denver, Assistant Secretary Abernathy presented Treasury's John Sherman Award for Excellence in Financial Education to the Young Americans Center for Financial Education for its noteworthy contributions in promoting financial education through Young AmeriTowne. The Young AmeriTowne program meets criteria for an effective financial education program identified by Treasury's Office of Financial Education. The Young Americans Center for Financial Education also houses Young Americans Bank and nonprofit programs such as International Towne and Young Entrepreneurs. More than 35,000 youth participate in the center's programs every year.
The Department of the Treasury is a leader in promoting financial education. Treasury established the Office of Financial Education (Office) in May 2002. The Office works to promote access to the financial education tools that can help all Americans make wiser choices in all areas of personal financial management, with a special emphasis on saving, credit management, home ownership and retirement planning. The Office also coordinates the efforts of the Financial Literacy and Education Commission, a group chaired by the Secretary of Treasury and composed of representatives from 20 federal departments, agencies and commissions, which works to improve financial literacy and education for people throughout the United States. For more information about the Office of Financial Education visit: www.treas.gov/financialeducation.