Financial Empowerment Coalition and Database
Kentucky State Treasurer Allison Ball launched the Financial Empowerment Coalition and the Financial Empowerment Database in April of 2018.
“As a former bankruptcy attorney, I understand the need of greater financial literacy in our state,” Treasurer Ball said at the press conference announcing the database and coalition. “This is an exciting day in Kentucky, as this coalition and database will help bring greater financial empowerment to Kentuckians."
The database is a product of the Treasurer’s work with leaders from numerous fields including educators, financial institutions, advocates for veterans and military personnel, and nonprofits. This online resource has been compiled as part of Treasurer Ball’s Financial Empowerment Coalition, which began meeting informally in 2016, the year she took office. The coalition, which now boasts more than thirty organizations, has provided over 100 links of financial literacy resources. The database’s resources are divided into six target groups, or Cultivation Communities, which are also the focus of the Financial Empowerment Coalition’s work. These six communities include Aging Kentuckians, Emerging Adults, Kentuckians with Disabilities, Low-Income Families, Student Strategies, and Veterans and Military Personnel.
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 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.
Individuals desiring to be appointed to the Kentucky Financial Empowerment Commission can download the application here. Directions for submission are listed on the application.