Financial Empowerment Commission
During the 2019 Session of the Kentucky General Assembly, Treasurer Allison Ball successfully advocated for the passage of the Kentucky Financial Empowerment Bill, HB 139. The bill passed the General Assembly with unanimous support from both Chambers.
The Commission is an innovative method of addressing a very important problem facing Kentuckians. Tasked with developing and implementing plans to improve the financial literacy of Kentuckians, the Commission will also provide support to educators teaching financial literacy in Kentucky. Thanks to a partnership Treasurer Ball reached with the Kentucky Credit Union League and Kentucky credit unions, the Commission will operate without the use of taxpayer dollars.
“In a time where money is tight in Frankfort, I have been working hard to address problems looming over Kentucky at no cost to taxpayers,” Treasurer Ball said. “The financial support of Kentucky credit unions is vital to the success of the Commission. Thanks to their commitment to partner with us in addressing financial literacy issues, we are tackling this problem head-on in a fiscally responsible way.”
The creation of Kentucky’s Financial Empowerment Commission is the newest element of Treasurer Ball’s persistent work to financially empower Kentuckians. In 2018, she was an outspoken advocate of HB132, which made a financial literacy course or program a high school graduation requirement. She also launched Kentucky’s Financial Empowerment Coalition and Database in April of 2018 and was named Chair of the National Association of State Treasurer’s Financial Education and Empowerment Committee in 2019.
The next meeting of the Kentucky Financial Empowerment Commission Board will be Thursday, May 21, 2020, at 9:00 AM. The meeting will be held virtually in light of COVID-19.