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Financial Empowerment Commission establishes goals; focus on ‘financial livelihood of Kentuckians’

The Kentucky Financial Empowerment Commission, led by Treasurer Allison Ball, established goals for its first year at its inaugural meeting this week.

“The Financial Empowerment Commission is off to a great start,” Ball said. “We had a very productive first meeting and are already hard at work to improve the financial empowerment of Kentuckians. I look forward to seeing the impact this Commission will have on the financial livelihood of Kentuckians.”

Allison Ball

First-year goals for the Commission include ensuring that all 173 of Kentucky’s public school districts have access to curriculum to help with the implementation of Kentucky’s financial literacy high school graduation requirement established by HB 132 (2018).

The Commission also set its sights on establishing financial empowerment goals for each of the six cultivation communities it is statutorily instructed to assist: 1) Aging Kentuckians, 2) K-12 Students, 3) Kentuckians with Disabilities, 4) Low-Income Kentuckians, 5) Veterans and Military Personnel, and 6) State Government Employees.

The Financial Empowerment Commission is an innovative method of addressing an important problem facing Kentuckians and will operate as a 501c3. Thanks to a partnership that Ball reached with Kentucky credit unions, the Commission will operate without use of taxpayer dollars.

HB 139, the Financial Empowerment Commission bill, passed the Kentucky General Assembly with unanimous bipartisan support and was codified as KRS § 41.450.

The Commission is Ball’s most recent achievement towards improving financial literacy in Kentucky. In 2018, she successfully advocated for the passage of HB132 and officially launched Kentucky’s Financial Empowerment Coalition and Database.

Seen as a national leader on Financial Literacy, Ball also serves as Chair of the National Association of State Treasurer’s Financial Education and Empowerment Committee.

From Office of State Treasurer

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