Governor Scott Walker announced recipients of the 2017 Governor’s Financial Literacy Award, as selected by the Governor’s Council on Financial Literacy. Eighteen individuals, businesses, and organizations were chosen as recipients for the award. The UW-Extension Family Living Program’s Check Your Free Credit Report Campaign was announced as one of the recipients of the award. Since 2013, the Family Living Program has conducted a “Check Your Free Credit Report Campaign,” which seeks to increase Wisconsin residents’ access to, and understanding of, their credit histories. Residents can sign up for e-mail reminders every four months (2/2, 6/6, and 10/10) to check their credit scores with one of the three major credit reporting bureaus. Since 2013, 940 Wisconsin residents have signed up for the reminder e-mails – 181 of them in 2017 alone.
2017 was a busy and successful year for the Center for Financial Security. Download a summary of our outreach work, research projects, notable events, and accomplishments from throughout the year. We look forward to future collaborations in 2018!
Date: March 21 & 22, 2018
Where: United Way of Greater Milwaukee & Waukesha County
225 W Vine St
Milwaukee, WI 53212
Description: University of Wisconsin trainers will provide a 2-day workshop on skills and strategies for financial coaches. This workshop is designed as an introduction to financial coaching and can also be used as a refresher to practice and advance coaching skills.
Cliff Robb, Associate Professor of Consumer Science and Faculty Director of Consumer Finance and Financial Planning, published a paper in the Journal of Family and Economic Issues, based on an analysis of college students’ subjective well-being and persistence behavior conducted with an emphasis on financial stress and individuals’ perceptions of financial situation. The full paper is now available.
The Center for Financial Security hosted a webinar on October 10, 2017 to highlight background, methodology, and findings from the International Rescue Committee’s recent study on financial capability for refugees, Financial Capability for New Americans: Lessons from Early Interventions with Refugees. Expert discussants provided information on current refugee resettlement processes and insights into financial capability challenges faced by refugees making their home in the United States.
This half day workshop hosted by The Center for Financial Security at the University of Wisconsin-Madison explored the potential for Financial Technology to address the needs of underserved consumers. The event was held in Nancy Nicholas Hall in the School of Human Ecology at the University of Wisconsin-Madison. Panelists from financial technology companies, researchers and practitioners contributed to a lively conversation followed by a key note speaker and reception. Attendees of the event included Affiliates and Fellows of the Center for Financial Security, students, local business leaders, and community stakeholders from the region.
Center for Financial Security Faculty Director, J. Michael Collins, was awarded the inaugural Ketchum Prize from the FINRA Foundation. The announcement took place at the Foundation’s Board of Directors triannual board meeting in Washington, D.C. The Foundation’s prize is named for Richard “Rick” Ketchum, who retired as Chairman and Chief Executive Officer of the Financial Industry Regulatory Authority (FINRA) and Chairman of the FINRA Foundation in 2016. Ketchum is admired for his distinguished leadership in the field of securities regulation over a career spanning three decades. Dr. Collins is being honored for his extensive work in improving family financial security through innovative and thoughtful approaches.
Following news of the recent Equifax data breach many consumers are fearful of how this could cause personal credit issues and possibly identify theft. Peggy Olive, Senior Financial Capability Specialist with UW-Extension and the Center for Financial Security, provides information and resources on how to monitor your credit report and take steps to remediate credit issues if they occur.
On June 28, 2017, the Center for Financial Security held a webinar presenting new research into the relationship between financial management behaviors and households’ ability to pay for out-of-pocket medical expenses. The webinar introduced the “FINMed” financial coaching intervention designed to help families pay for ongoing health care needs.
With over 30 faculty affiliates across departments at UW-Madison, as well as more than 30 fellows at other institutions throughout the nation, The Center for Financial Security is pleased to provide a platform for sharing some of the most exciting and innovative early stage research in the household finance realm.
Join us every Thursday in Rm 1199 of Nancy Nicholas Hall from 3:45-5pm for this multi-disciplinary exploration of household finance research.