Matz Emphasizes Importance of Consumer Education for Financial Security
ALEXANDRIA, Va. (May 3, 2013) – New consumer information, educational events, and a lively online response marked this year’s Financial Literacy Month for the National Credit Union Administration (NCUA).
“National Financial Literacy Month focuses attention on the importance of consumer education, and NCUA considers this a year-round commitment,” Board Chairman Debbie Matz said. “We know an educated consumer makes better financial decisions that lead to long-term security, and I hope people of all ages take advantage of the financial education data we have made available.”
NCUA participated in several educational events, including a visit to Junior Achievement of Greater Washington’s Finance Park on the campus of Robert Frost Middle School in Fairfax, Va. The facility is the result of a financial literacy partnership among Junior Achievement, Fairfax County Public Schools, and private sponsors, including Apple Federal Credit Union. More than 14,000 middle school students benefit from the facility’s programs each year.
NCUA also supported Financial Literacy Day on Capitol Hill. Staff provided information on NCUA’s updated consumer website MyCreditUnion.gov, financial literacy microsite Pocket Cents, and new personal finance game “Hit the Road.” Credit unions can link to all NCUA consumer resources on their own websites.
Consumers reacted enthusiastically to NCUA’s online information centers. Nearly 24,000 people visited MyCreditUnion.gov in April, and almost 2,500 read Pocket Cents. MyCreditUnion.gov visitors can also connect with NCUA’s new consumer Twitter feed, @MyCUgov, which features timely personal finance tips to help individuals make smarter financial decisions.
NCUA is a member of the Financial Literacy and Education Commission which is committed to helping young people understand financial basics. NCUA is partnered with the U.S. Department of Education and the Federal Deposit Insurance Corporation to promote financial education and savings programs among school-age children.
NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the U.S. Government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 97 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At
Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues..