Communications Office: Stephen Mease
Phone: (802) 865-6432
Burlington, Vt. (Dec. 18, 2014)—Vermont's Financial Literacy Task Force has released a report, "Vermont's Financial Literacy Action Plan," with recommendations aimed at strengthening Vermonters' financial futures. The group, created through the Champlain College Center for Financial Literacy, has developed 13 actionable solutions that will lead to an increase in the financial wellbeing of citizens across the state.
"When it comes to money smarts, far too many Vermonters aren't making the grade," said Bob Allen, Windham Foundation president/CEO and task force chairman. "We have the opportunity to help lift our friends and neighbors out of financial turmoil. The time to take action is now."
"Vermont's Financial Literacy Action Plan" includes a series of recommendations aimed at legislators, educators, policymakers and business and non-profit leaders to drive change to provide Vermonters with the knowledge, tools and training needed to take control of their financial lives. The recommendations will engage Vermont and its citizens in updating outdated personal finance standards in schools, offering more robust financial literacy learning opportunities in colleges, and providing adults with financial literacy education opportunities. The recommendations are:
Establish a Vermont Financial Literacy Commission with representation from business, education, government and nonprofit organizations.
In late April 2014, John Pelletier, Champlain College's director of the Center for Financial Literacy, gathered 20 distinguished Vermonters with a deep interest in the financial future of their fellow citizens. The group was further divided into three discrete committees to address financial literacy in schools, colleges and the workplace. Over the past six months, the committees have met regularly, racking up 400 collective hours, to deliver actionable and impactful solutions, which were adopted by the entire task force.
The Vermont Financial Literacy Task Force, which is composed of state leaders with diverse backgrounds in education, government, business and nonprofit sectors, includes:
Chair-Bob Allen, President & CEO, Windham Foundation
The work of the task force was managed by John Pelletier, director, Champlain College's Center for Financial Literacy.
Watch the press conference. Click below.
The Vermont Financial Literacy Task Force is supported through generous grants from the following organizations:
Association of Vermont Credit Unions, Champlain Investment Partners, Hanson & Doremus Investment Management, KPMG, National Life Group, NEFCU (New England Federal Credit Union), TD Bank, United Way of Chittenden County, Vermont Association of Realtors, Vermont Business Roundtable, Vermont Student Assistance Corporation, the Windham Foundation and various private donors.
To read the complete plan, please visit www.financialfunkvt.org
Champlain College's Center for Financial Literacy is nationally acclaimed, one-of-a-kind program aimed at increasing knowledge of money matters in classrooms across the country, ensure college students graduate with the skills to make sound decisions about spending, credit and investments, and help adults navigate difficult financial situations like buying a home and saving for retirement. A partnership among several financial institutions, non-profit entities and governmental agencies, its goals are to promote and develop financial literacy skills in K-12 students, college students, teachers (K-12 and college) and adults, and advocate for financial education opportunities at the local, state and national level
Founded in 1878, Champlain College is a small, not-for-profit, private college in Burlington, Vermont, with additional campuses in Montreal, Canada, and Dublin, Ireland. Champlain offers a traditional undergraduate experience from its beautiful campus overlooking Lake Champlain and over 90 residential undergraduate and online undergraduate and graduate degree programs and certificates. Champlain's distinctive career-driven approach to higher education embodies the notion that true learning occurs when information and experience come together to create knowledge. Champlain College is included in the Princeton Review's The Best 382 Colleges: 2018 Edition. For the third year in a row, Champlain was named a "Most Innovative School" in the North by U.S. News & World Report's 2018 "America's Best Colleges," and an "A+ School for B Students" and is ranked in the top 100 Regional Universities of the North. Champlain is also featured in the Fiske Guide to Colleges for 2018 as one of the "best and most interesting schools" in the United States, Canada and Great Britain and is a 2018 College of Distinction. For more information, visit www.champlain.edu.