Welcome to the Governor's Council on Financial Literacy
The Governor's Council on Financial Literacy held its regular meeting on June 2 at Great Lakes Higher Educational Corporation & Affiliates, Madison. Council Member Amy Kerwin of Great Lakes and Cheryl Weiss, DFI's Student Debt Specialist, led a discussion of student debt. Governor Walker in March announced the creation of the debt specialist position to serve as an outreach coordinator to inform current and future student loan borrowers about potential debt management, investment, and educational options. The same day Governor Scott Walker announced that 11 grants totaling more than $152,000 have been awarded to schools across Wisconsin to enhance personal finance education. Grant recipients were selected by the Governor's Council on Financial Literacy out of a field of 51 applicants. This is the third time in five years that DFI has provided funding for such grants. Over those three cycles, DFI has invested about $750,000 in the grant program.
Governor's Financial Literacy Awards
Governor's Financial Literacy Innovation Grants
Wisconsin Summit on Financial Literacy 2016, Lambeau Field
Financial Literacy Education in Schools
Financial Literacy Education in the Workplace
The Wisconsin Department of Financial Institutions (DFI), on behalf of the Workplace Financial Literacy Committee of the Governor's Council on Financial Literacy, surveyed Wisconsin employers to learn more about employer-provided financial education in the State.
- 59% of respondents currently offer financial education to their employees.
- Large companies are much more likely than small firms to offer financial education.
- The vast majority (86%) of firms that offer financial education have done so for more than 1 year.
Governor's Council on Financial Literacy and Members
The Council's mission is to measurably improve the financial literacy of Wisconsin's citizens through the actions listed on Executive Order #24 and shall guide and serve as a continuous sounding board for the Office of the Governor and the Department of Financial Institutions' Office of Financial Literacy.
Many Wisconsin families— but particularly low- and moderate-income ones—struggle to deal effectively with the complex range of choices they encounter in the financial services markets. Families that lack financial assets have little ability to build wealth and they contribute to rising consumer debt. Surveys also show that youth lack basic financial skills and knowledge.
The Council is part of a pro-active approach to improving financial literacy in Wisconsin and making the state the recognized national leader when it comes to promoting financial literacy.
The Council welcomes and encourages your participation. Please pass along your ideas and suggestions by sending e-mail to: David Mancl.
Thank you in advance for your participation.
The Governor's Council on Financial Literacy