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ICBA Applauds Reps. Hinojosa and Biggert for Resolution on Financial Literacy Month

Washington, D.C. (April 4, 2007)—The Independent Community Bankers of America (ICBA) strongly supports the bi-partisan congressional resolution (H. Res. 273) designating April as "Financial Literacy Month," which calls on government, non-profit organizations and the private sector to raise public awareness about the importance of financial education in the United States and the serious consequences that can result from a lack of understanding about personal finances.

"Managing money wisely is critical to success in life," said James P. Ghiglieri, Jr., ICBA chairman and president of Alpha Community Bank, Toluca, Ill. "Too many Americans lack the skill and knowledge to make appropriate financial decisions. The more consumers and young adults know, the better they are at managing their finances, and the better they manage their finances, the more likely they are to enjoy a secure financial future."

ICBA has an on-going commitment to improving financial literacy by encouraging community banks to provide financial education within their communities and by forging government, nonprofit and private-sector partnerships, such as the FDIC Money Smart program, JumpStart Coalition, and Practical Money Skills for Life.

"We commend Reps. Rubén Hinojosa (D-Tex.) and Judy Biggert (R-Ill.), along with the more than 100 cosponsors, for introducing a resolution that supports the goals and ideas of Financial Literacy Month," said Ghiglieri. "Financial education is important for today's consumers so that they can understand and make good decisions when faced with the complex array of financial products and services available."

For more information, visit the consumer education and resources section of www.icba.org.