Top 5 Organizations Improving Financial Literacy in the U.S.

“Top 5 Organizations Improving Financial Literacy in the U.S.”

Author: Felix A. Montelara

In the United States (U.S.) most of the nation’s financial education resources are run through nonprofit organizations. In this post I want introduce you to five such organizations that are working toward improving your financial literacy through innovating educational methodology and technology.

As background in 2002 the U.S, Treasury Department created an Office of Financial Education. In 2003 the U.S. Congress enacted legislation establishing the Financial Literacy and Education Commission under the Financial Literacy and Education Improvement Act. In the meantime many organizations cropped up in support of the financial literacy education push. Eventually, on January 22, 2008, President George W. Bush signed Executive Order 13455, creating the President’s Advisory Council on Financial Literacy. The advisory committee defined financial literacy as “the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being.” The U.S. Congress, in July 2010, passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which created the Consumer Financial Protection Bureau (CFPB), whose mission is to promote financial education.

The roundup of top five organizations improving financial literacy in the U.S. are the following:

1. CFED (Corporation for Enterprise Development) (Research, program development)

2. NEFE (National Endowment for Financial Education) (Research, program development)

3. Institute for Financial Literacy (Professional training and certification for financial counselors and educators)

4. Junior Achievement (nation-wide K-12 financial education)

5. Phroogal (cutting edge consumer financial resource)

For the native Spanish speakers living in the U.S. or bilingual (English/Spanish) who prefer to learn “Educación Financiera” in Spanish visit: WWW.POTENCIALMILLONARIO.COM

At the understand and know that there are many more organization promoting and working on providing all of us with excellent financial literacy programs. Please feel free to add them in our comments and they will also be recognized.