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Treasury's Deputy Assistant Secretary for Financial Education Dan Iannicola, Jr. today led a financial education roundtable along with the El Paso Affordable Housing Credit Union Service Organization in El Paso, Texas. Iannicola spoke to representatives from eight credit unions and other community leaders about the Department of the Treasury and the Financial Literacy and Education Commission's role in improving financial literacy in partnership with various community-based organizations across the country.
Iannicola commended the roundtable participants for their work in financial literacy. This group shows a strong commitment to the idea that financial education can make a real difference in people's lives, said Iannicola. The organizations here today help a variety of people with a variety of issues. They help recent immigrants, members of the military, Native Americans and others with matters such as getting an account with a financial institution, managing credit and purchasing a first home. The people of El Paso are well served by these strong community leaders.
The CUSO is a non-profit organization formed by the following eight local credit unions: El Paso Area Teachers Federal Credit Union; El Paso Employees Federal Credit Union; Ft. Bliss Federal Credit Union; GECU; Golden Key Federal Credit Union; Mountain Star Federal Credit Union; One Source Federal Credit Union; and the West Texas Credit Union. It focuses on promoting financial education and savings, and providing access to capital. The CUSO has held approximately 200 financial education and homeownership workshops over the last 2 years enrolling over 3,500 participants.
The Department of the Treasury is a leader in promoting financial education. Treasury established the Office of Financial Education in May of 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.