Welcome to the Oregon statewide financial wellness blog series, from the Financial Empowerment Advisory Team.
The Team brings together citizens, nonprofits, financial industry partners and Oregon agencies to advance the shared goals of increasing financial awareness and education, across the state.
No matter where you live, how old you are, or what you do, we all are better off with accessible financial learning – which leads to wiser decisions, less stress, more saving, and more consumer confidence.
Across Oregon, impressive things are happening to help put more people on the path to security, solvency, and success. Please let us know about news to include or events for our statewide calendar.
Landmark Financial Education Legislation Passes
The 2023 Legislature took a step forward towards improving financial literacy amongst Oregon youth when it approved Senate Bill 3, a bipartisan proposal that restores the requirement that Oregon students take a personal finance class in high school.
The requirement of a semester-long personal finance class – and a companion semester “life skills” course in order to graduate – begins in 2027. As a next step, the bill directs the State Board of Education to adopt academic content standards for higher education and career path skills and for personal financial education.
“Everyone deserves the chance to get ahead financially and I’m excited that the legislature took this step to help our students,” said State Treasurer Tobias Read on the bill’s passage. “We hope that this requirement will help generations of Oregonians be on a stronger footing as they navigate the financial landscape.”
Statewide Financial Empowerment Advisory Team To Meet In August
The Financial Empowerment Advisory Team convenes once a quarter to encourage and highlight financial education, wellness, accessibility and equity. The meetings are open to the public.
On Aug. 1, the Team will meet in person at Treasury’s Tigard office. Members of the public and Oregon’s financial empowerment network are invited to attend the meeting.
The agenda will include a roundtable conversation and introductions, an update on the next Oregon Financial Wellness Scorecard, and an overview from the Department of Education about the new financial literacy legislation. Learn more about the upcoming meeting here .
Questions or to RSVP? Email us at financial.empowerment@ost.state.or.us.
Urban League of Portland Launches New Financial Wellness Partnership
In June at the Renaissance Common in North Portland, the Urban League of Portland celebrated a new financial partnership that will combine the power of the nonprofit with Oregon credit unions to help more Oregonians develop a stronger financial footing.
The program, called the Financial Empowerment Collaborative (FEC), will foster financial empowerment in Portland’s Black community and provide solid pathways for participants on their path to financial and housing stability and wealth creation.
The partners in the Collaborative include Rivermark Credit Union, Unitus Credit Union, Advantis Credit Union, Consolidated Community Credit Union, Point West Credit Union, and the GoWest Foundation.
You can learn more about the Collaborative and how to get involved from Rachell Hall at the Urban League of Portland, at RHall@ulpdx.org.
Do you have news to share about financial empowerment in Oregon? Let us know! Send your updates to James.Sinks@ost.state.or.us.
2023 Financial Empowerment Awardees Announced
The winners of the second annual Oregon Financial Empowerment Awards were announced in April, as part of the state’s recognition of Financial Empowerment Month.
The honorees are Amy Fifth-Lince, a teacher at Liberty High School in Hillsboro, and the HomeSource low-income homebuyer education program from Redmond-based NeighborImpact.
Fifth-Lince and HomeSource received multiple nominations.
Winners receive financial awards and students receive scholarships in partnership with the Oregon College Savings Plan. Nominations for next year’s awards open in November.
Learn more about this year’s award receipiants on Treasury’s news and information blog, the Ledger.
Oregon Financial Empowerment Roundup
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