Press Releases Press Releases

PRESS RELEASE 05-01
January 5, 2005
Contact: Alana Golden, Public Information Officer
(916) 323-7012 or (916) 322-5966
www.dfi.ca.gov

Department of Financial Institutions Partners with Center for Student Credit Card Education, Inc. to offer free credit card literacy program for high school seniors

San Francisco - The Department of Financial Institutions (DFI) today announced it's partnership with the Center for Student Credit Card Education, Inc. (CSCCE) to offer free credit card literacy program for high school seniors.

The Center for Student Credit Card Education, Inc. is offering a free credit card literacy program for California high school seniors to teach students how to wisely choose and responsibly use a credit card before going on to college or out into the workforce. This is made possible through a non-commercial sponsorship of the program by Citibank.

FYI, over 100,000 college, university and high school students have successfully received this training. By participating in the program, teachers will help students develop the skills necessary to build a positive credit history that will serve them today and for years to come.

The curriculum includes:

  • A primer, The ABCs of Credit Card Finance - Essential Facts for Students. One primer is provided for each participating student.
  • A Trainer's Guide and a PowerPoint Presentation to facilitate teaching the material, which takes approximately one hour of instruction time. Since most students will not self-educate on this topic, it is a requirement of the program that this material be presented by an instructor.
  • A generic Parent Letter. The parent letter will accompany the primer and teachers are asked to request that students deliver the letter home. The letter invites parents to take an active role in teaching their child about credit cards. The letter also informs parents that college-bound students will be able to obtain a credit card on a college campus without need of a prior credit history, employment, or a parent's co-signature.
  • To take part in this program, teachers simply need to respond to this press release or an email that will be sent out to all high schools and provide the number of students that will be taught and a mailing address to send the program materials.

The Department of Financial Institutions will contact California high school teachers this month regarding the program. Participating teachers will receive their program materials no later than March 2005 and they must be presented to the students before the end of the 2005 school year. Teachers within one school are encouraged to share the Trainer's Guide and PowerPoint Presentation and, if necessary, they are free to duplicate them.

For additional information, please contact Alana Golden via email at alana.golden@dfi.ca.gov.

You may visit the Web site for the California Department of Financial Institutions at www.dfi.ca.gov and the Center for Student Credit Card Education, Inc. at www.cscce.com.

The Department of Financial Institutions supervises over 650 financial institutions, including 204 commercial and industrial banks and 221 credit unions. The Department is responsible for administering state laws regulating state-licensed financial institutions: banks, credit unions, industrial banks, savings associations, trust companies, offices of foreign banks, issuers of travelers' checks and payment instruments (money orders), and transmitters of money abroad. The Department reports to Sunne Wright McPeak, Secretary of the Business, Transportation and Housing Agency and Governor Arnold Schwarzenegger.