FROM THE OFFICE OF PUBLIC AFFAIRS

October 22, 2004
JS-2053

Treasury Official Recognizes Financial Education Program,
Discusses Financial Literacy with Philadelphia Students

Treasury Under Secretary for Domestic Finance Brian Roseboro today presented the John Sherman Award for Excellence in Financial Education to Operation HOPE for its Banking on Our Future financial education program. Roseboro presented the award at the Imani Education Circle Charter School in Philadelphia following a joint teaching session where he and John Bryant, founder, Chairman, and CEO of Operation HOPE taught fourth and fifth graders the importance of money and how to manage it effectively. Actor and recording artist Tyrese joined Roseboro and Bryant to talk to the students about the importance of financial literacy.

"Any opportunity to teach young people about finances is an opportunity to provide them with vital tools they will use for the rest of their lives," said Roseboro. "This financial education program teaches students across the nation how to manage money in a practical manner. It has been very rewarding for me to teach and see firsthand the enthusiasm students have for financial education."

Banking on Our Future, which began in 1996, is a financial education program that targets youth ages 10 to 20. Volunteer banker-teachers work with public schools to teach students the fundamentals of banking, credit and investment using exercises developed by the program.

Operation HOPE is a national provider of financial literacy and economic empowerment programs. Through ongoing collaborations and long-term partnerships with leading government, private sector, and community interests, Operation HOPE works to bring self-sufficiency and a sustained spirit of revitalization to America's inner-city communities.

The Department of the Treasury is a leader in promoting financial education. Treasury established the Office of Financial Education in May of 2002. The Office works to promote access to the financial education tools that can help all Americans make wiser choices in all areas of personal financial management, with a special emphasis on saving, credit management, home ownership and retirement planning. The Office also coordinates the efforts of the Financial Literacy and Education Commission, a group chaired by the Secretary of Treasury and composed of representatives from 20 federal departments, agencies and commissions, which works to improve financial literacy and education for people throughout the United States. For more information about the Office of Financial Education visit: www.treas.gov/financialeducation.