These are increasingly stressful economic times. I know that more families are feeling financially pinched. It’s something I think about every day. Costs are rising for many basics, making it harder for almost every Oregonian to make ends meet. The job market is tightening. And funding many Oregonians rely on to pay for food or hold down health care costs are getting cut.
If you don’t have a rainy-day fund, or an emergency savings plan, you'll have even less peace of mind. At Treasury, we want to make it easier for you to stay informed, spend wisely and protect yourself financially. Thank you for taking the time to learn more about ways we can all work together to help more Oregonians achieve financial well-being.
More Oregonians Are ‘Banked’ Than The National Average, Thanks To Increase In Safe Account Options
Having a bank or credit union account can save you money – and give you peace of mind.
Oregon is among the nation’s leaders when it comes to the percentage of people who are “banked” – and that’s thanks in part to the efforts of the Bank On Oregon coalition, which helps Oregonians find safe and affordable financial account options.
As of this month, there are now 22 Oregon financial institutions offering low-cost “Bank On certified” accounts in Oregon, and five others with accounts that meet almost all the standards. That’s an increase from 12 accounts just three years ago.
To be certified, accounts can’t have overdraft fees and there are no check cashing fees. Accounts are also federally insured. You’re often eligible even if you have a poor banking history you’ve had past banking issues, such as an account closure due to unpaid overdraft fees.
That percentage of Oregonians without bank or credit union accounts stood at just 2 percent in 2023, according to the FDIC. It was even lower in the Portland metro area, at 1.8 percent. The national average was 4.2 percent.
“Oregon’s banks are proud to support Bank On Oregon, expanding access to safe, affordable accounts that help more Oregonians build financial stability,” said Jennifer Schubert of the Oregon Bankers Association. “These accounts make it easier for Oregonians to save, budget, and build financial security – helping more individuals and families fully participate in our financial system.”
My Money Oregon web portal launched
It’s now easier to get connected to community financial education resources, tools from government agencies, meeting materials from the Financial Empowerment Advisory Team and a statewide community calendar of financial learning-focused events.
Those easy links are available at a new one-stop-virtual-shop called My Money Oregon. A public-private partnership, the Financial Empowerment Advisory Team is the state-level collaborative that focuses on financial wellbeing, financial inclusion, financial education and economic justice across Oregon. The goals include augmenting existing financial wellness programs, increasing accessibility for all and building partnerships.
The new web page is among the agenda items for the next meeting of the Team, which will be held virtually on Dec. 2 at 2 p.m. and is open to the public. Also on the agenda, Oregon Attorney General Dan Rayfield will discuss the expansion of consumer protection enforcement in Oregon through the Department of Justice.
United Way summit highlights the tough financial choices for working-class families
The federal poverty line doesn’t tell the whole story.
For families with paychecks and kids, especially, that key U.S. Census statistic doesn’t accurately reflect the reality of financial survival, when unexpected bills can wreck a budget overnight. That’s why United Way charities across the nation have come up with a new way to measure financial stability.
It’s called ALICE, or Asset Limited, Income Constrained, yet Employed. In short, it is a statistic that measures if working families have enough to pay bills, even if they are above the poverty line.
And as attendees learned at a summit in Lebanon in September, an estimated 42% of households in Oregon were below the ALICE threshold in 2023. It’s even higher in rural counties.
“The ALICE Summit brought together leaders across sectors to confront the realities of working families who are one step away from crisis,” said Kevin Manske, President and chief executive of the United Way of Linn, Benton and Lincoln Counties. “Our goal is to turn awareness into action by building both preventative and intervention strategies that create lasting impact in our communities.”
Beaverton, Lake Oswego Teams Win 2025 Economics Challenge; Plan Now For 2026 Contest
The 2025 award-winning teams from Sunset High School in Aloha (top) and Lake Oswego High School (bottom).
Each March, high school students team up and test their knowledge in the Oregon Economics Challenge, sponsored by the Oregon Council on Economics Education.There are two divisions. One for advanced placement-level students with several semesters of economics classes, and the other for students with a single semester.
The 2025 winner in the advanced division was Lake Oswego High School, where the “Econoquistadors” team outpaced the runner-ups from Westview High School. The Lake Oswego teacher advisor was Daniel Eizyck.
The winner of the other division was the team from Sunset High School in Beaverton. The advisor was Rebecca Taylor.
The Oregon Council on Economics Education offers three student-focused contests each year, open to high schoolers statewide. Signups are open now. In addition to the Economics Challenge, it also makes available a Personal Finance Challenge and the national Stock Market Game.
New surveys and statistics highlight Oregonians’ finances
The goals of the Financial Empowerment Advisory Team include measuring progress toward financial health goals, with financial-focused data incorporated into the annual Oregon Financial Wellness Scorecard.
A trio of new reports from Oregon nonprofits also are helping to illustrate additional facets of financial health statewide – as well as challenges – for policymakers and the public. The findings are mixed.
A July survey from Portland-based Oregon Consumer Justice found that Oregonians still have scant emergency savings. The report also found that housing and utility costs are Oregonians’ biggest source of financial stress.
More people are moving to rural Oregon and financial hardship is declining, yet education scores remain stubbornly low, according to the By The Numbers annual report from Roseburg’s Ford Family Foundation, produced in partnership with the Oregon State University Extension.
Oregon’s cost of living rank improved, while the homeownership rate declined and at a rate faster than the national average. That’s among the commerce-leaning statistics compiled in the new “Oregon Scorecard” by Salem-based Oregon Business & Industry.
Joey Running helped connect high schoolers and younger students in 2024 as part of the Jump$tart Coalition’s Teen Teach In program.
In Memoriam: Oregon and national personal finance education leader Joey Running Oregon lost one of its best-known and most-loved personal finance champions and mentors, with the sudden passing in October of Albany schoolteacher Joey Running.
Running was the 2024 National High School Business Educator of the year, the 2024 Oregon Financial Empowerment Educator of the Year, and 2021 Oregon Council on Economic Education Teacher of the Year. She was an influential voice for the passage of Oregon’s personal finance class requirement in 2023.
She joined the business faculty at Oregon State University this fall.
She was also a teaching fellow for the national nonprofit Next Gen Personal Finance, which recently released a profile video.
State of Oregon Happenings
Consumer Alert: Oregon Attorney General, DHS Warn Of Uptick In ‘Card Skimmers’
Attorney General Dan Rayfield and the Department of Human Services are warning Oregonians about scams involving card skimmers placed on payment machines at grocery and convenience stores across the state, especially in rural areas.
The bogus devices allow thieves to steal data from Electronic Benefit Transfer (EBT) cards, which are used by thousands of Oregon families to access food and cash assistance. “This is theft from Oregon families who can least afford it,” Rayfield said, in a release. The Department of Human Services says theft from EBT cards in the first half of September was 50 percent higher than in July and August combined.
Good News For Students: Most Districts Will Start Personal Finance Class On Time
Understanding not all school districts might be ready, state lawmakers said the new requirement for students to learn about personal finances – starting with the graduating class of 2027 – could be delayed by a year if districts needed more time to hire qualified staff.
However, most of Oregon’s 198 districts are prepared: fewer than 10 have asked to postpone the requirement until 2028, reflecting the widespread priority of personal finance education across the state, according to the Oregon Department of Education.
That’s far fewer districts than was initially expected, said Aujalee Moore, Standards Guidance Program Analyst and the department’s liaison to the Financial Empowerment Advisory Team.
The state’s personal finance class requirement was abandoned in the 1990s, but state lawmakers restored it in 2023. A revival of the personal finance class had been cited as the top priority by parents in a state analysis of potential diploma reforms.
Reflecting The Array Of Higher Education Pathways, State’s College Savings Plan Renamed To ‘Embark’
Please help spread the word about the new identity of Oregon’s trusted education savings program.
For a generation, Oregonians have saved for education goals through the Oregon College Savings Plan. Recognizing that higher education can mean many options – including trade schools, apprenticeship and career programs – the popular program has been renamed to Embark.
Savers still benefit from tax-free growth on investments and tax-free withdrawals for education expenses. In addition, anybody who saves can receive an incredibly valuable annual Oregon income tax credit, which rebates as much as $360 per year for joint filers. That can add up: It’s worth $6,480 over 18 years.
A new ranking from Saving For College, which gave the Oregon plan high honors in a comparison of 529 plans, shows that Oregon’s tax incentive for saving is among the top 3 nationally.
Plus, new federal rules allow unused funds to be rolled into a Roth IRA, and also allow for savings to pay down student loans.
Oregon Financial Empowerment Roundup
Oregon is on track to advance from a “C” to an “A” in the newest National Report Card on High School Financial Literacy, marking a major step forward in how well the state prepares its students to navigate the world of money.
Adults over the age of 65 now outnumber youth under 18 in Oregon. The Age Friendly Oregon Summit on Sept. 18 brought experts, government leaders and the public to Portland State University to address a critical question: How can we ensure Oregon is a great place for people of all ages and abilities? See conference materials from AARP Oregon.
Oregon’s Department of Justice is warning about a gold and silver bar scam, in which scammers impersonate financial institutions or government agencies, after an Eastern Oregon woman was defrauded of $600,000.
The Oregon Department of Revenue is warning taxpayers not to engage with text messages that claim to be from the department asking them to update banking information.
Are you a business owner or entrepreneur? With feedback from focus groups, the FDIC is redesigning its Money Smart for Small Business program, which will add an education module on profitability.
Also for Oregon small businesses, the Federal Reserve is seeking information about banking relationships, labor market dynamics and the use of Artificial Intelligence, as part of its 2025 Small Business Credit Survey. Answers will be accepted until Nov. 14.
Are you thinking about making an investment? Answer these 5 questions from investor.gov and the U.S. Securities and Exchange Commission.
Connect to the public by listing your financial nonprofit in Oregon’s free community resource hub. Financial counseling and wellness services are featured in the 211info hotline and clearinghouse, available in more than a dozen languages.
Back-to-school season is a great time to review your insurance policies and coverage to ensure your family is protected, according to the Oregon Division of Financial Regulation (DFR)
Founded in Oregon, nonprofit FinAbility offers resources and trauma-informed counseling to help victims of stalking and domestic abuse to fix their finances – which are often in ruins.
Oregon Attorney General announces consumer protection expansion focused on fraud enforcement, economic justice and also a new Working Families Unit.
Oregon doubles energy bill assistance funding to help families address the rising cost of living. “The biggest issue on people’s minds is the affordability of everyday life,” said Oregon Housing and Community Services Director Andrea Bell.
Four Oregon teachers will receive scholarships to join November’s National Educator Conference, presented by the Jump$tart Coalition for Personal Financial Literacy. They are David Cox (Salem-Keizer), Olivia Green (Gresham), Lisa Jones (Glencoe) and Erik Konrad (Tigard-Tualatin). Congratulations!
A new analysis from WalletHub found that Oregon rates well among states – the 6th best -- when it comes to student load affordability, when factors such as unemployment rate, grant and student work are also considered.
National report card says Oregon on track to advance from C grade to an A for personal finance education
An Oregon FinTech startup called Budge offers educational tools and helps consumers weigh options when it comes to debt counseling and consolidation services, which are not all alike.
Do you have unclaimed property in Oregon? Proactive effort called “checks without claims” is returning $3.5 million – but hundreds of millions of dollars remain.
Questions about the FAFSA or paying for college? The Oregon Association of Student Financial Aid Administrators has assembled a new, free webinar and training materials in three languages: English, Spanish and Russian.
| Date |
Event |
Nov. 3-6 |
Class: Youth Financial Foundations, 4 p.m., Zoom, DevNW |
Nov. 6 |
Class: Stress Less Succeed More, 12 p.m., Zoom, MicroEnterprise Services of Oregon |
Nov. 9 |
Class (Spanish): Financial and Homebuyer Education, 9 a.m., Nueva Esperanza Community Room, 5397 NE Hidden Creek Dr, Hillsboro, Bienestar |
Nov. 12 |
Class: Scam and Fraud Prevention, 12 p.m., Zoom, MicroEnterprise Services of Oregon. |
Nov. 12 |
Virtual meeting: Oregon ABLE Savings Plan and helping people with disabilities, 6 p.m., Central Oregon Disability Support Network and Oregon State Treasury |
Nov. 13 |
Virtual Class: Quick Tips for Managing Your Mortgage, 6 p.m., Zoom, NeighborImpact. |
Nov. 18 |
Virtual Class: Homeowner Credit and Budget Basics. 6 p.m., Zoom, NeighborImpact |
Nov. 19 |
Fall Education Summit: The Aerie at Eagle Landing, 10220 SE Causey Ave, Happy Valley, Financial Planners Association of Oregon & SW Washington |
Dec. 2 |
Public meeting: Financial Empowerment Advisory Team, 2 p.m., virtual meeting |
Dec. 3 |
Class: Unleash Your Potential and Stop Feeling Stuck, Zoom, 6 p.m., MicroEnterprise Services of Oregon |
Dec. 5 |
Program: Proactive Protections -- How Oregon Can Lead in Data Privacy, 1:30 p.m., 1120 SW Madison St, Portland, Oregon Consumer Justice |
Dec. 7 |
Class: Financial and Homebuyer Education, 9 a.m., Nueva Esperanza Community Room, 5397 NE Hidden Creek Dr, Hillsboro, Bienestar |
Feb. 1 |
Class (Spanish): Financial and Homebuyer Education, 9 a.m., Nueva Esperanza Community Room, 5397 NE Hidden Creek Dr, Hillsboro, Bienestar |
Feb. 3 |
Public meeting: Financial Empowerment Advisory Team, 2 p.m., virtual meeting |