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July 22, 2008

(Washington, D.C.)-North Dakota State Treasurer Kelly Schmidt was the featured speaker July 16 at the National Financial Education Network meeting hosted by the U.S. Department of the Treasury. Schmidt, who also serves as Chair of the National Association of State Treasurers (NAST) Foundation, addressed ways that state and local governments can provide personal finance education to citizens.

Schmidt said that many people of all age groups and regions of the country lack the financial education to make wise money management decisions. She noted that during a time when families are struggling to make ends meet, understanding concepts like saving for the future and living on a budget are critically important.

Schmidt described the success of northdakota.tomorrowsmoney.org, a web site created by her office to provide personal finance education in a way that people of different backgrounds can use with ease. The site has sections that cater to young people, military families, women and Native Americans.

“Financial education is about the individual,” Schmidt said. “You have to make concepts personal so people will care and understand.”

In her role as Chair of the NAST Foundation, Schmidt leads the organization’s efforts to promote financial literary in every state. She was elected to the position in September 2007 by her colleagues from across the nation.

As state treasurer, Schmidt is responsible for the cash management, accounting and distribution of state funds. She is also the custodial of the general fund and many trust funds which include the Veteran’s Postwar Trust, Veteran’s Cemetery, and the Contract-Sales Indemnity Fund.

Established by the Federal Government in April of 2007, the National Financial Education Network brings together representatives from different areas and levels of government across the nation to advance financial education efforts. Members of the Network are able to communicate with each other and collaborate on projects and ideas that can have a broad impact in financial education.

The National Association of State Treasurers, founded in 1976, is an organization of state financial leaders. It encourages the highest ethical standards, promotes education and the exchange of ideas, builds professional relationships, develops standards of excellence and influences public policy for the benefit of the citizens of the states.

The NAST Foundation, established in 2000, is the association’s not-for-profit partner dedicated to educational initiatives for public finance officials and the general public.

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