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Matz: America and Military Saves Week a 'Great Opportunity' for Member Education
Monday, February 24, 2014 6:55 AM

“An educated consumer is better prepared to make sound financial choices, build savings and find greater financial peace-of-mind,” says National Credit Union Administration Board Chairman Debbie Matz. She’s urging credit unions to educate their members and their communities about the importance of saving during America Saves Week and Military Saves Week, which runs today through March 1.

“The week is a great opportunity for credit unions to educate Americans about why saving is an important element of achieving financial security,” Matz said. “Teaching individuals how to build wealth is a core mission of the credit union system, and I strongly encourage credit unions to take part in various activities to remind their members of the importance of saving. Nearly 44 percent of American households have almost no savings for emergencies; that’s a serious economic concern that credit unions can address.”

Credit unions can partner with local savings campaigns and consumer organizations to offer motivational workshops and obtain posters, brochures and other resources. NCUA’s America and Military Saves Virtual Campaign Headquarters page offers many resources for credit unions interested in participating. Credit unions also can learn more about America Saves activities here and Military Saves activities here.

For the first time, NCUA will host a Twitter chat, the first of a two-part series focusing on financial literacy, Feb. 26, at 11 a.m. Eastern. Kenneth Worthey, Financial Literacy and Outreach Analyst with NCUA’s Office of Consumer Protection, will guide credit unions and consumers through the agency’s financial literacy resources and answer participants’ financial literacy questions. Credit unions and consumers are encouraged to follow the conversation and contribute using the #NCUAChat hashtag on Twitter. Participants can submit questions ahead of time to socialmedia@ncua.gov.