News Release

New Jersey Department of
Banking and Insurance

Commissioner Neil N. Jasey

For Immediate Release:
October 7, 2009

For Further Information:
Ed Rogan or Marshall McKnight (609) 292-5064

EWING – The New Jersey Department of Banking and Insurance (DOBI) Commissioner Neil N. Jasey, Education Commissioner Lucille Davy and Banking Director Terry K. McEwen joined educators and financial planners today in co-teaching a financial literacy program to students at Ewing High School. During Governor Jon Corzine’s administration, DOBI, the Department of Education and New Jersey’s financial services employees have taught thousands of young people how to responsibly handle finances since the statewide effort began in October 2006. The number of young New Jerseyans learning how to establish and preserve good credit, set up a budget and open checking and savings accounts while protecting sensitive financial information has exceeded 25,000 from all 21 counties in more than 300 public high schools.  

“Helping our young people get the best financial start possible in life is a wise investment in the state’s economy,” Governor Corzine said. “This is economic development at the grass roots level and is critical to New Jersey’s future.”

“Governor Corzine, through his leadership, has made certain that today’s youth has the knowledge needed to responsibly handle their finances,” said Commissioner Jasey. “Armed with the power that comes with financial literacy, today’s New Jersey youth will be well positioned to prosper in tomorrow’s economy.”

“If New Jersey students are going to be successful, productive participants in the 21st century economy, they have to understand the fundamental principles of earning, spending, saving and investing,” Commissioner Davy said. “Financial literacy will help ensure that our students have the tools to properly manage their money, avoid debt, maintain a good credit record and save for the future.” 
 
Commissioners Jasey, Davy and Director McEwen, supported by representatives from the Financial Planning Association of New Jersey, lead the one-hour financial literacy class. Throughout the year, DOBI and its public and private sector partners invite school districts to participate in this ongoing financial education outreach project.

“New Jersey is leading the nation in many quality of life issues,” said Director McEwen. “By making sure our youngest members of society have a responsible handle on financial matters, we are taking important steps toward safeguarding against future financial crises.”

“Financial planning is at the heart of financial literacy,” said Omega Hartman, director, Financial Planning Association of New Jersey.

Program participants include the New Jersey Department of Education, New Jersey Coalition for Financial Education, Federal Deposit and Insurance Corporation (FDIC), New Jersey Bankers Association, Mortgage Bankers Association of New Jersey, New Jersey League of Community Bankers, New Jersey Credit Union League, New Jersey Society of CPA’s and the Financial Planning Association of New Jersey.