McGraw-Hill Federal Credit Union Seminars Equip Teachers With Tools and Knowledge to Educate Future Graduates

EAST WINDSOR, N.J., May 16, 2011 /PRNewswire/ -- McGraw-Hill Federal Credit Union has just completed the second part of its Financial Literacy seminars for high school educators. The two-part series was created with the cooperation of the New Jersey Department of Education and the New Jersey Coalition for Financial Education. It was intended to prepare teachers to teach financial literacy to high school students.  Originally begun as a pilot program in 2009, all public high schools will be required to provide financial literacy education this fall. The new statewide mandate will address the plummeting financial literacy rates among both high school and college graduates.

Recognizing most public school educators have never received formal education in financial literacy, McGraw-Hill Federal Credit Union began offering educational seminars in April 2011.  On Wednesday, May 4, and Tuesday, May 10, the credit union offered the second installment in its financial literacy seminar on the subject of credit. Among the topics covered were: how to obtain a credit score for free, the factors that impact credit score, the effect of late payments, bankruptcies, short sales and foreclosure impact on an individual's financial future, and consumer protection agencies.  The educators who attended the seminars received continuing education credits. The seminars fulfilled New Jersey Standards 9.2.12.C.1-9.2.12.C.8 on Credit and Debit Management.

According to McGraw-Hill Federal Credit Union President and CEO, Shawn Gilfedder, "Newly-minted graduates are most vulnerable to financial scams. Those decisions can affect their ability to establish good credit for many years. It's critically important to give our graduates the financial wherewithal to make the right financial decisions to establish a strong foundation."

Highlighting a financial literacy crisis among students, the Jumpstart Coalition for Personal Financial Literacy, a non-profit financial literacy organization based in Washington, D.C., stated in its most recent study that 62.2 percent of college graduates and only 38 percent of high school graduates were financially literate.

Forty four educators, representing 24 school districts, attended the seminars. Among them was JoAnn Sos, a financial literacy educator from Lakewood High School in Lakewood, New Jersey.  "I loved the seminar content and presentation. The speaker was fabulous. Facts were on point and presented in a way that kept your interest. Plus, we received additional resources for content not covered during the session," said Sos.  

McGraw-Hill Federal Credit Union, a member-owned cooperative, is one of the strongest, most progressive financial institutions in the region, offering a full range of banking, investing, and insurance services to over 16,000 members worldwide.  McGraw-Hill Federal Credit Union began serving the employees of the McGraw-Hill Companies in 1935, one year after the Federal Credit Union Act's creation. Today, McGraw-Hill Federal Credit Union serves the employees of over 100 companies, including Radio City Music Hall, Emblem Health, New Jersey Resources, Gensler, Depository Trust and Clearing Corp., and the National Hockey League.

Contact: Larry M. Weiner, APR
[email protected]
201-712-0019

SOURCE McGraw-Hill Federal Credit Union