05/07/2025 | Press release | Distributed by Public on 05/07/2025 17:07
WASHINGTON, DC - On Tuesday, May 6, Congresswoman Joyce Beatty (D-OH-03) and Congresswoman Young Kim (R-CA-40), Co-Chairs of the Financial Literacy and Wealth Creation Caucus, hosted a free, bipartisan Financial Education Resource Fair on Capitol Hill. The event connected members of the public, Congressional staff and community stakeholders with trusted financial tools and expert guidance to promote financial security and wealth-building.
Representatives from more than 30 government agencies, nonprofits, and financial institutions were on hand to share strategies and resources on topics such as savings, budgeting, credit and debt management, retirement planning, investing, and fraud protection.
According to the 2024 Consumer Financial Literacy and Preparedness Survey by the National Foundation for Credit Counseling, 80 percent of adults in the United States say they could benefit from additional guidance on everyday financial questions. Additionally, data from the Federal Deposit Insurance Corporation (FDIC) shows that at least 14.2 percent of U.S. households-nearly 19 million-are unbanked or underbanked, lacking access to essential services like savings, lending, and other basic financial tools.
The event began with opening remarks from Congresswoman Beatty and Congresswoman Kim.
"Every American deserves the knowledge and tools to navigate our financial system and make it work for them," said Congresswoman Joyce Beatty. "That's why I'm grateful to the organizations that joined us today to support attendees in their pursuit of financial education and empowerment. With the help of nonprofits, financial institutions, and government agencies committed to financial literacy, the Financial Literacy and Wealth Creation Caucus is equipping Americans to achieve financial stability, grow wealth, and move closer to financial freedom."
"Financial literacy is a lifelong journey," said Congresswoman Young Kim. "I appreciate stakeholders joining us to share vital resources to help attendees learn more about financial education as we celebrate Financial Literacy Month. As Financial Literacy and Wealth Creation Caucus co-chair, I'll keep working with bipartisan colleagues and the Trump administration on policies that help Americans grow their credit, get a leg up, and achieve the American Dream."
"CFP Board applauds the Financial Literacy and Wealth Creation Caucus, and Co-Chairs Kim and Beatty, for bringing together key leaders committed to advancing financial education and literacy initiatives," said Erin Koeppel, Managing Director of Government Relations and Public Policy Counsel at CFP Board. "Through our work to expand access to competent and ethical financial planning, CFP Board and CFP® professionals across the country share the caucus' goal of expanding access to financial guidance and helping more Americans understand the resources available to them."
"PBS LearningMedia is committed to helping students acquire knowledge and build the real-world skills they need to thrive in school and life. Interactives and games are powerful tools that make financial literacy both fun and meaningful. We are honored that our work supports the goals of Representatives Young Kim and Joyce Beatty, the Financial Literacy and Wealth Creation Caucus co-chairs. By challenging students to think critically about financial decisions in an engaging, story-driven format, PBS LearningMedia resources help drive deeper learning that sticks," Lori Brittain, Vice President PBS LearningMedia.
"First Command is committed to providing all U.S. service members - and their families - the financial tools they need to attain financial readiness and stability," said First Command CEO Mark Steffe."Ensuring military spouses can obtain employment and create a financial roadmap for their family is equally important, and we appreciate the diligent work the Congressional Financial Literacy and Wealth Creation Caucus performs in this endeavor. Today's event highlights the important steps being taken to improve the livelihoods of our servicemembers, and we look forward to a long-lasting partnership with the Caucus."
"TIAA is committed to securing retirements for millions more American workers, especially at a time when 45% of U.S. households are projected to run short of money in retirement. A greater understanding of how much monthly income a worker will need to replace to last throughout retirement is key to a secure financial future," said Chris Spence, Head of Government Relations and Public Policy at TIAA. "We appreciate today's event and collaboration with the Congressional Financial Literacy and Wealth Creation Caucus, particularly Representatives Beatty and Kim, for supporting increased access to financial education, literacy, and retirement savings resources."
About the Congressional Financial Literacy and Wealth Creation Caucus
The Financial Literacy and Wealth Creation Caucus endeavors to provide Americans with the tools and resources necessary for economic stability, wealth generation, and prosperity. This caucus develops and advocates for comprehensive, result-driven strategies that empower individuals to make sound financial decisions, achieve their economic objectives, and secure a robust financial foundation for themselves and future generations. The caucus aims to promote education, policy development, and public-private collaboration to advance financial literacy.
For the full list of participating organizations, click HERE(link is external).
For additional photos from the event, click HERE(link is external)
For video of Rep. Beatty's remarks, click HERE(link is external).
For inquiries, please contact Christine Thompson at Christine.Thompson@mail.house.gov(link sends email).
###