Fostering Financial Literacy in America

St. John's Alumni Summer 2011 Magazine

St. John’s University is poised to embark upon a historic undertaking designed to promote a better understanding of the ways in which financial realities impact everyone within our society.

At a recent gathering of the St. John’s Corporate and Social Responsibility Council, Denis M. Hughes, President, New York State AFL-CIO and New York State Comptroller Thomas P. DiNapoli joined University administrators in announcing a partnership between the University and the Teaching Financial Education Group for a planned National Center for Financial Literacy.

St. John's Alumni Summer 2011 MagazineThe theme of financial literacy and capability addresses the unfortunate reality that a pervasive lack of economic understanding has had a negative effect on our communities locally, nationally and internationally. The creation of this unique resource directly reflects St. John’s mission of helping the underserved, in this case those most hindered by the lack of financial knowledge.

“The opportunity to create a National Center for Financial Literacy is made possible because of the willingness of bank executives, government and labor officials, corporate benefactors and higher education administrators who are willing to all sit at the same table and discuss solutions for financial literacy that has recently been brought to light in our society,” said Jonelle Bradshaw de Hernandez, Director, Corporate and Foundation Relations at St. John’s.

In order to have the greatest impact on our society both now and in the future, the Center is expected to begin the process by educating students from kindergarten through college.

“It is critical that young people, from childhood on to adult life, become aware of how to handle money,” noted Jerrold Ross Ph.D., Academic Vice President for St. John’s Staten Island campus and Dean of The School of Education. “It is just as critical, therefore, that we develop standards for the teaching of financial literacy.”

The St. John’s Corporate Social Responsibility Council is a distinguished group of corporate stakeholders who are dedicated to addressing the educational, environmental and social needs of the community they serve. The Council includes corporations that are committed to corporate philanthropy and recognize the opportunity and importance of aligning with a nationally recognized University that has been responding to community needs since 1870.