In an interview yesterday with kuhf Houston, Texas Credit Union Foundation (TCUF) Executive Director Courtney Moran tells reporter David Pitman that “fear keeps many people from honestly looking at their expenses to see where and how they can save more.”
Moran also blamed a general lack of financial literacy among consumers.
"I really don't think that education has been there, first of all, for many parents, for many teachers. We expect many teachers to teach our children this; yet they don't even know it themselves.”
Although not captured in the news report, in her interview with Pitman, Moran did highlight the great work Texas credit unions are doing in their local schools and community to improve financial literacy among Texans.
In his report, Pitman cited results from a recent Texas Credit Union League survey, that found nearly 80 percent of respondents have an emergency savings account.
“That's a significantly higher rate than people surveyed in Iowa, Ohio, California, Nevada, and Georgia,” Pitman reported.
Click here to hear Pitman’s interview with Moran.