Committees
Governor’s Council on Financial Literacy Subcommittees
Formal education in schools—Youth are receiving a
failing grade in financial literacy. Meanwhile, unprecedented access to
credit and financial products and services abounds. Formal education is
the best means, and most predictive, to promote good financial decisions
and behavior. For financial literacy to be lasting, it needs to be systemically
and effectively taught in our classrooms.
How can Wisconsin better prepare youth to enter our evolving financial
system?
In what ways can Wisconsin help schools promote financial literacy?
What infrastructure needs to be built or improved?
Mark Schug (Chair)
University of Wisconsin - Milwaukee
Kathryn Marczak
Harley-Davidson Financial Serivces Inc
Deborah Mahaffey, Designee for
Elizabeth Burmaster, Superintendent
WI Department of Public Instruction
Douglas Timmerman
AnchorBank
Employee Education Programs—The responsibility
of pension management has shifted from the employer to the employee yet
little or no education has augmented this swift trend. Further, little
or no financial education opportunities existed for these adults in school
growing up. Meanwhile, more financial services and products exist than
ever before. Research shows financial education helps both employers and
employees.
How can Wisconsin work with employers to reach adults in the workplace
to provide financial education.
Meridee Maynard (Chair)
Northwestern Mutual Life Insurance Co
Kevin McKinley
Author, Professional Financial Planner
Marlene Duffield , Designee for
Roberta Gassman, Secretary
WI Department of Workforce Development
Kim Plache, Designee for
Antonio Riley
WI Housing & Economic Development Authority
Emerging Market Opportunities—Groups of individuals
which do not currently have a relationship with traditional financial
institutions, i.e., “unbanked.” Some groups include minorities,
low to moderate income, immigrants, and Native Americans. It is predicted
that this market will significantly increase in the next two decades.
How will Wisconsin address the financial literacy needs of this growing
citizenry?
Deborah Blanks (Chair)
Social Development Commission
Wendy Baumann
WI Women's Business Initiative Corp
William Wilcox
CBM Credit Education Foundation, Inc.
Prevention of Fraud Programs—Elderly are the top
target group of investment fraud. Other groups are targeted for unscrupulous
lending and insurance practices. Regulation and licensing can only go
so far to prevent bad financial transactions. New services and competition
can provide a solution to drive down high-cost transactions.
Where and how can financial education help prevent fraud?
What incentives could drive competition to make it unprofitable to offer
bad financial products and services?
Eileen Mallow, Designee for
Jorge Gomez, Commissioner
Office of the Commissioner of Insurance
David Mancl
WI Jump$tart Coalition for Personal Financial Literacy
Michael Morgan, Secretary
WI Department of Revenue
Family Financial Literacy Programs— Children’s
first teacher is the parent. Parents and guardians are in a unique role
in educating youth by example and by tutelage. Further, adults face a
myriad of financial decisions as they manage household money matters
with short term and lasting implications.
How can Wisconsin support financial education in its most basic economic unit—the
household?
Cathie Tierney (Chair)
Community First Credit Union
Jeremiah Boyle
Federal Reserve Bank of Chicago
David Hackworthy
Robert W. Baird & Co., Inc.
Ann Peggs
WI Women's Counci
The Financial Literacy Innovation (FLI) Awards 2006 (Committee
choices announced September 20, 2006) — Incentivizing schools
and communities to implement financial literacy
These awards are an opportunity for teachers to help bring new and creative
programs and events into the classrooms of Wisconsin Schools and be a
means to enhance the teaching and learning of financial literacy. They
are intended to encourage the design of courses, special projects, events
or activities that will impact any segment of the school or a Wisconsin
community. Applications can be for any creative activity, courses, event
and/or any necessary equipment that would be needed for the activity
or event which promotes financial literacy. Proposals must demonstrate
sustainability so as to make the financial literacy systemic in the school
longterm. Proposals that include parents, volunteers, and other members
of the community, as well as joint proposals from teams of teachers are
encouraged. Proposals that include letters of support and financial support
from other partners (such as community foundations, etc.) are also encouraged.
“These funds offer educators a rare chance to try original ideas
and novel approaches to help their students gain sound financial knowledge
they can use throughout their lives,” said Secretary Heinemann. “Research
shows that students desperately need this type of education. These
projects will also strengthen each school’s commitment to financial
literacy now and in the future.”
The projects selected implement the state’s Model Academic Standards
for Personal Financial Literacy that was unveiled in 2006 by a task force
appointed by State Superintendent Elizabeth Burmaster. The Model
Academic Standards’ goal is to bring more financial literacy information
into schools.
Wendy Baumann
WI Women's' Business Initiative Corp.
Deborah, Mahaffey, Designee for
Elizabeth Burmaster, Superintendent
WI Department of Public Instruction
David Mancl
WI Jump$tart Coalition for Personal Financial Literacy
Kevin McKinley
Author, Professional Financial Planner
William Wilcox
CBM Credit Education Foundation, Inc.
|
