• Texas had the second lowest average credit score of any state in the nation at 670 (national average is 692). Nevada had the lowest average at 668; Minnesota had the highest average at 721. Source: Experian 2011.
• In a study of credit scores by city, four of the bottom ten credit scores are from Texas. Residents of the Harlingen, Corpus Christi, Tyler and El Paso metro areas struggle with low scores. Sources: Analysis based on a statistically relevant sampling of Experian's consumer credit database, and credit scores were based on the average VantageScore by designated market area from January through June 2011.
• One-third, or more than 77 million Americans, do not pay all of their bills on time. Sources: National Foundation for Credit Counseling and the Network Branded Prepaid Card Association, 2012.
• 37 million Americans hold an average of $23,200 in student loan debt. Source: YoBucko.
• For more finance statistics visit Making The Case for Financial Literacy - 2012

In 2005, the Texas Legislature passed House Bill 492 (Rep. Beverly Woolley) and Senate Bill 851 (Sen. Eliot Shapleigh), which mandates a class in personal finance as a requirement for graduation from public high school to be implemented no later than the 2008-2009 school year.

In 2011, House Bill 34, which was sponsored by Sen. Florence Shapiro and co-sponsored by Sen. Royce West, was passed. The bill amends the Education Code to include instruction in methods of paying for postsecondary education and training in the personal financial instruction required by the Texas essential knowledge and skills in the public high school curriculum.

Areas of instruction include:
understanding interest, avoiding and eliminating credit card debt	bankruptcy
understanding the rights and responsibilities of renting or buying a home	the types of bank accounts available to consumers and the benefits of maintaining a bank account
managing money to make the transition from renting a home to home ownership	balancing a checkbook
starting a small business	the types of loans available to consumers and becoming a low-risk borrower
being a prudent investor in the stock market and using other investment options	understanding insurance
beginning a savings program and planning for retirement	charitable giving

Read the State Mandate (HB – 492 (79-R) Enrolled)

Read HB – 34 (82-R) – Enrolled PDF

Download a list of Texas Education Agency approved materials

Banks can receive CRA credit by providing financial education. The general areas that apply for credit are lending, service and investment.

American Bankers Association – CRA Credit Guidance and Sample Form

Federal Financial Institutions Examination Council – CRA Web page

OCC’s Community Reinvestment Act Information