On March 2, our Financial Education Advisory Team held its third meeting. The group is made up of financial services and financial literacy experts from across the state. Treasurer Read and our team here at Treasury has been tapping into that expertise to guide our efforts to boost financial education in Oregon.
For our recent meeting, we went beyond Oregon’s borders, inviting treasurers from Arizona, Rhode Island, and Vermont to share the work they’re doing help their states’ residents become savvier and more confident when it comes to money matters.
Treasurer Kimberly Yee of Arizona discussed how she worked with her state’s legislature to better coordinate financial literacy efforts by making it an official duty of the State Treasurer. In addition, she talked about the creation of a task force that brings together expertise from across Arizona.
Treasurer Beth Pearce of Vermont outlined the creation of MyMoney.Vermont, a financial literacy portal and information clearinghouse. She also discussed a Financial Literacy Trust Fund that is administered by the Treasurer’s office.
And Rhode Island Treasurer Seth Magaziner talked about the creation of a Financial Education Educator of the Year Award, and how his office is keeping a spotlight on the importance of financial education with the creation of a Treasurer-led roundtable that hosts networking meetings across the state.
Our March meeting builds on the Advisory Team’s previous discussions on how to equip Oregonians with helpful information and connect them with the public programs, nonprofits, and businesses that focus on financial education and personal resilience. The Team has also brought crucial perspective on income inequality, asset-building, and economic justice, and how any new efforts from the state must include meaningful collaboration with diverse communities.
Seeing how other states have navigated this sphere was a nice complement to the Advisory Team’s work so far. As Treasurer Read said at the March meeting, “Transformation takes persistence.” That’s why these building blocks – and voices from inside the state and out – matter.
Over the next three meetings, Treasurer Read and the Financial Education Advisory Team will begin shaping recommendations for Treasury’s financial literacy work. We’ll keep you posted on what the Team comes up with and how we’re using this process and guidance to help Oregonians have the financial confidence they deserve.
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