A U.S. Chamber of Commerce survey, emphasizes the vital role of financial literacy in preparing individuals for the workforce.
Key Findings from the Survey
- Workforce Preparedness Gap: A significant majority of surveyed hiring managers (84%) believe that most high school students lack the necessary preparation to enter the workforce.
- Most Valued Skill: Financial literacy is identified as the single skill that hiring managers most highly value.
- Value for New Employees: Nearly all (96%) hiring managers agree that financial literacy skills are valuable for entry-level employees, with 61% finding them very valuable.
Addressing the Financial Literacy Gap in Tennessee
Recognizing the widespread nature of the financial literacy issue, the Tennessee Financial Literacy Commission recently hosted three Financial Literacy Scorecard Summits. These Summits gathered community leaders to tackle the financial literacy deficits affecting families, workforce readiness, and long-term economic growth. The primary goals were to foster education, encourage collaboration, and transform insights into tangible strategies and recommendations to strengthen financial education and wellness across Tennessee.
Credit Union Participation and Partnership
We were pleased to have several credit union leaders participate on panels, highlighting the actions credit unions are taking to promote financial wellness in their communities. Our thanks go to Kelly Price, CEO of Eastman Credit Union; Todd Swims, CEO of Leaders Credit Union; and Matt Jernigan, CEO of Ascend Credit Union.
Following the Summit, the Treasurer met with credit union representatives to further discuss collaboration, strengthening the partnership between credit unions and the Commission. This is a crucial step toward our shared goal of improving the lives of all Tennesseans.
Gratitude to Sponsoring Credit Unions
We extend our sincere gratitude to the following credit unions for pledging financial support to the Commission and its programs:
Alcoa Tenn Federal Credit Union
Appalachian Community Federal Credit Union
Ascend Federal Credit Union
Chattanooga Federal Employees Credit Union
Clinchfield Federal Credit Union
Cornerstone Financial Credit Union
Eastman Credit Union
Enrichment Federal Credit Union
First South Federal Credit Union
Fortera Credit Union
Heritage South Community Credit Union
Knoxville TVA Employees Credit Union
Leaders Credit Union
Memphis City Employees Credit Union
Northeast Community Credit Union
Orion Financial Credit Union
ORNL Federal Credit Union
Southeast Financial Credit Union
The Credit Union for Robertson County
Trust Federal Credit Union
United Southeast Federal Credit Union
