FOR IMMEDIATE RELEASE		For more information 
				Contact:  	Leslie E. Linfield, Executive Director
						Institute for Financial Literacy
						(207) 221 – 3613

Governor Proclaims April as Financial Literacy Month for Mainers
Non-profits and government agencies recognized for financial education efforts at 2nd Annual Financial Literacy Day in Maine 

AUGUSTA, Maine (April 9, 2009) – “In tough economic times, many Mainers are gripped by anxiety and fear that the global recession that has impacted Maine will jeopardize their economic security. That is why it’s more important than ever for Mainers to seek out information about how to manage their finances.” Governor Baldacci said, in a speech proclaiming April as Financial Literacy Month for Mainers and recognizing the efforts of the non-profit organizations and government agencies committed to financial education.  “Knowledge is power, and we are lucky that in the State of Maine and nationally there are people with a wealth of information who can lend a hand in understanding finances.”  

In a proclamation declaring April 2009 as Financial Literacy Month for Mainers, Governor Baldacci pointed out a need for Mainers to take advantage of the many programs available state wide whose focus is on financial education. According to the Governors proclamation, only 40% of Americans use a budget to keep track of their household finances and 2 out of 5 worry about excessive debt. “The Institute for Financial Literacy continues to work to improve the financial literacy of the residents of Maine” he said. In her opening remarks, Leslie Linfield, Executive Director for the Institute for Financial Literacy and the host of the event, pointed out that the growth of the Institute over the past 7 years demonstrates the need for financial education both nationally and right here in the State of Maine. “With much debate these days about the state of our economy, Mainers should know that financial education is a powerful personal a tool that is immediately accessible to them.” Said Linfield.
Both the President of the Senate, Elizabeth Mitchell and the Speaker of the House, Hannah Pingree noted the importance of financial literacy programs in Maine, and the value of having a month devoted to creating awareness for financial education. “You are doing some of the most important work for the people of Maine right now” said Hannah Pingree.

Dale McCormack, Director of MaineHousing made the very distinct connection between financial literacy and the housing crisis, pointing to the foreclosure crisis as the root of the recession.  “Even when the foreclosure crisis ends, financial literacy will continue to be important” Capitalizing on the importance of financial literacy in the lending process, McCormack said that financial literacy was more important than income in the home buying process.

“Mainers want to provide security for their families and see their communities healthy and strong” the Governor said, pointing to financial education as a valuable tool to keep Maine families healthy and strong. 

Financial Literacy Tool Box
The organizations providing Financial Education and tackling the real challenge of encouraging a more financially literate population in Maine included:


General / Adult Education

Institute for Financial Literacy				www.financiallit.org
Center for Financial Certifications				www.fincert.org
Bureau of Consumer Credit Protection				www.maine.gov
Bureau of Financial Institutions				www.maine.gov
Department of Professional & Financial Regulation		www.maine.gov	
HoMEworks							www.mainehomeworks.org
Maine Housing							www.mainehousing.org		
Office of Securities						www.maine.gov
Women, Work & Community						www.womenworkandcommunity.org
					
Youth Education						
Harold Alfond College Challenge					www.500forbaby.org
Junior Achievement						www.maine.ja.org
Maine Family & Consumer Science Teachers 			www.aafcs.org
Maine JumpStart							www.mejumpstart.org	
Jobs for Maine’s Graduates					www.jmg.org
University of Maine Cooperative Extension			www.umext.maine.edu/
University of Maine Financial Education Program			www.umaine.edu	

For a complete list of resources contact the Institute for Financial Literacy. 

About The Institute for Financial Literacy
The Institute for Financial Literacy was founded in 2002 with the mission of making Financial Literacy Education available to all American Adults. Located in Portland, Maine; The Institute accomplishes its mission by working with organizations to incorporate financial education into their existing services.  The Institute also provides direct delivery of financial counseling and education to the general public. As the national authority on adult financial education, the Institute advances professionalism and effectiveness in the field of financial literacy by setting the National Standards for Adult Financial Literacy Education.
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