U.S. Vice President Joe Biden Promotes Financial Literacy in National Urban League Keynote Address

by | 07/25/14 | Commentary, Uncategorized

In a broad endorsement of the importance of financial education in both the United States and, indeed, throughout the world, U.S. Vice President Joseph Biden promulgated the virtues of financial literacy in a plenary speech at the 2014 National Urban League conference in Cincinnati, Ohio. Biden was joined by a notable group of financial education advocates, thought leaders and policy makers, including Kevin Johnson, the President of the U.S. Conference of Mayors, as well as several other U.S. policymakers, such as Mayor Alvin Brown of Jacksonville, Florida, and Mayor Michael Coleman of Columbus, Ohio.

This year’s National Urban League conference, dubbed “One Nation Underemployed: Bridges to Jobs and Justice,” placed a heavy focus on financial education, as financial literacy is being widely recognized as a major social, political and economic issue facing communities throughout the country. Financial literacy is now a Signature Program of the National Urban League, whose position on the topic stems from the notion that changing financial behavior is as important as increasing financial knowledge in ensuring that individuals and families meet their financial goals.

The National Urban League’s financial education programming has been focused disproportionately on low and moderate income families in formal, non-formal, and informal educational settings. Formal settings include courses that are held in high schools and colleges, while non-formal settings include financial literacy workshops, trainings and counseling programs that are offered outside formal educational institutions. Informal financial education consists of an expansive scope of daily interactions between family members, friends and the media at large.

Among the features that sets the National Urban League’s approach to financial literacy apart from many other financial education programs is the breadth of channels through with the organization delivers its initiatives. Its individual-focused offerings include both one-on-one counseling and telephone consulting. Its group-focused offerings include topical seminars and presentations, as well as training workshops and courses provided within formal educational institutions. The organization also has rolled out a number mass methods, such as television and radio programs, internet-based options, interactive CD initiatives, and financial education newsletters. By offering financial education through multiple platforms, the National Urban League is able to best connect with individuals and families in the manner in which they are accustomed to communicating.

Additional information about the plenary session during which Vice President Biden made remarks can be found here.

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